Fortem Financial Group LLC Sells 100 Shares of The Cigna Group (NYSE:CI)

Fortem Financial Group LLC decreased its position in The Cigna Group (NYSE:CI) by 3.5% in the third quarter, Holdings Channel.com reports. The firm owned 2,767 shares of the health services provider’s stock after selling 100 shares during the quarter. Fortem Financial Group LLC’s holdings in The Cigna Group were worth $959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares in the last quarter. Marks Group Wealth Management Inc increased its stake in The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after purchasing an additional 23,376 shares in the last quarter. ORG Partners LLC purchased a new position in The Cigna Group in the second quarter worth about $489,000. Raymond James & Associates grew its holdings in shares of The Cigna Group by 3.2% during the second quarter. Raymond James & Associates now owns 602,339 shares of the health services provider’s stock valued at $199,115,000 after buying an additional 18,733 shares during the last quarter. Finally, Trinity Street Asset Management LLP increased its position in shares of The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after acquiring an additional 5,397 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CI shares. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Jefferies Financial Group boosted their target price 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. One investment 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. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $311.37 on Wednesday. The firm’s 50 day simple moving average is $330.47 and its two-hundred day simple moving average is $337.91. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $86.61 billion, a P/E ratio of 29.37, a P/E/G ratio of 0.96 and a beta of 0.50. The Cigna Group has a 1-year low of $288.88 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly 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 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 Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.77 EPS. Research analysts expect that The Cigna Group will post 28.49 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.80%. The Cigna Group’s payout ratio is 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.