Entropy Technologies LP Takes $2.31 Million Position in The Cigna Group (NYSE:CI)

Entropy Technologies LP bought a new position in shares of The Cigna Group (NYSE:CI) in the 3rd quarter, Holdings Channel reports. The fund bought 6,672 shares of the health services provider’s stock, valued at approximately $2,311,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CI. Van ECK Associates Corp grew 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 purchasing an additional 625 shares during the last quarter. Marks Group Wealth Management Inc boosted its position in shares of The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares during the period. Hancock Whitney Corp grew its stake in shares of The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after acquiring an additional 1,629 shares in the last quarter. ORG Partners LLC bought a new position in The Cigna Group during the second quarter worth about $489,000. Finally, Tidal Investments LLC boosted its holdings in The Cigna Group by 36.0% in the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.9 %

Shares of NYSE CI opened at $340.06 on Wednesday. The company has a 50 day simple moving average of $341.35 and a 200 day simple moving average of $340.18. 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 Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm has a market cap of $94.59 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 0.96 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 (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

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 $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.65%. The Cigna Group’s payout ratio is 52.83%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CI. Barclays lifted 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. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Stephens reaffirmed 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 decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group 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.