Aberdeen Wealth Management LLC Cuts Position in The Cigna Group (NYSE:CI)

Aberdeen Wealth Management LLC reduced its stake in shares of The Cigna Group (NYSE:CI) by 11.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,902 shares of the health services provider’s stock after selling 511 shares during the period. Aberdeen Wealth Management LLC’s holdings in The Cigna Group were worth $1,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the 2nd quarter valued at approximately $33,000. Ulland Investment Advisors LLC boosted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group in the third quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of The Cigna Group during the 2nd quarter worth $66,000. Finally, Private Ocean LLC boosted its position in shares of The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after buying an additional 46 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Royal Bank of Canada cut their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report 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 report on Wednesday, August 21st. Finally, Barclays lifted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Up 0.3 %

Shares of NYSE CI opened at $322.40 on Tuesday. The stock has a market capitalization of $89.68 billion, a PE ratio of 30.42, a P/E/G ratio of 0.97 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 firm has a fifty day moving average of $338.17 and a 200-day moving average of $339.27. 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 results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping the consensus estimate of $7.22 by $0.29. The company 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 firm’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm posted $6.77 earnings per share. On average, analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

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 given 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 yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

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.