AlphaCore Capital LLC Sells 59 Shares of The Cigna Group (NYSE:CI)

AlphaCore Capital LLC lowered its position in The Cigna Group (NYSE:CI) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 999 shares of the health services provider’s stock after selling 59 shares during the quarter. AlphaCore Capital LLC’s holdings in The Cigna Group were worth $346,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CreativeOne Wealth LLC bought a new stake in The Cigna Group during the first quarter valued at approximately $454,000. Lazard Asset Management LLC lifted its holdings in shares of The Cigna Group by 54.3% during the 1st quarter. Lazard Asset Management LLC now owns 185,295 shares of the health services provider’s stock worth $67,296,000 after acquiring an additional 65,193 shares during the last quarter. BOKF NA grew its position in The Cigna Group by 14.3% in the first quarter. BOKF NA now owns 5,381 shares of the health services provider’s stock worth $1,959,000 after acquiring an additional 673 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. Finally, Manhattan West Asset Management LLC lifted its stake in The Cigna Group by 7.9% during the first quarter. Manhattan West Asset Management LLC now owns 9,778 shares of the health services provider’s stock worth $3,551,000 after purchasing an additional 712 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Barclays upped their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Up 2.3 %

Shares of NYSE:CI opened at $330.71 on Friday. The firm has a market capitalization of $91.99 billion, a P/E ratio of 31.20, a P/E/G ratio of 0.97 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a 50 day moving average price of $336.15 and a 200-day moving average price of $338.97. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted $6.77 earnings per share. As a group, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

The Cigna Group Company Profile

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.