Goodman Financial Corp Decreases Stock Holdings in The Cigna Group (NYSE:CI)

Goodman Financial Corp lowered its position in shares of The Cigna Group (NYSE:CI) by 2.2% in the third quarter, HoldingsChannel.com reports. The firm owned 40,881 shares of the health services provider’s stock after selling 913 shares during the quarter. The Cigna Group comprises 3.2% of Goodman Financial Corp’s holdings, making the stock its 13th largest position. Goodman Financial Corp’s holdings in The Cigna Group were worth $14,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Avestar Capital LLC boosted its holdings in The Cigna Group by 1.3% in the third quarter. Avestar Capital LLC now owns 3,822 shares of the health services provider’s stock valued at $1,324,000 after purchasing an additional 50 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of The Cigna Group by 13.7% during the 3rd quarter. Brooklyn Investment Group now owns 2,287 shares of the health services provider’s stock worth $792,000 after buying an additional 276 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $4,847,000. Prospector Partners LLC grew its position in shares of The Cigna Group by 0.4% in the 3rd quarter. Prospector Partners LLC now owns 41,018 shares of the health services provider’s stock valued at $14,210,000 after buying an additional 160 shares during the last quarter. Finally, FMR LLC raised its stake in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after acquiring an additional 279,880 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $332.73 on Tuesday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a 50-day moving average price of $334.74 and a 200 day moving average price of $338.63. The company has a market cap of $92.55 billion, a P/E ratio of 31.39, a PEG ratio of 0.99 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the business posted $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CI shares. Barclays upped their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One 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’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $394.64.

About The Cigna Group

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.