Paloma Partners Management Co Sells 10,740 Shares of The Cigna Group (NYSE:CI)

Paloma Partners Management Co decreased its holdings in shares of The Cigna Group (NYSE:CI) by 82.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,364 shares of the health services provider’s stock after selling 10,740 shares during the quarter. Paloma Partners Management Co’s holdings in The Cigna Group were worth $819,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in shares of The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after acquiring an additional 625 shares during the period. Marks Group Wealth Management Inc grew its position in The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares during the last quarter. ORG Partners LLC bought a new position in shares of The Cigna Group during the 2nd quarter worth about $489,000. BDF Gestion acquired a new position in shares of The Cigna Group during the second quarter valued at about $3,131,000. Finally, Kingswood Wealth Advisors LLC lifted its stake in shares of The Cigna Group by 81.4% in the second quarter. Kingswood Wealth Advisors LLC now owns 3,680 shares of the health services provider’s stock valued at $1,216,000 after buying an additional 1,651 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced 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. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $337.14 on Tuesday. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The firm’s 50-day moving average price is $333.16 and its two-hundred day moving average price is $338.34. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $93.77 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 1.02 and a beta of 0.51.

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

The Cigna Group Announces Dividend

The business 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 dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

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.