Citizens Financial Group Inc. RI Has $2.98 Million Stock Holdings in The Cigna Group (NYSE:CI)

Citizens Financial Group Inc. RI lowered its position in shares of The Cigna Group (NYSE:CI) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,611 shares of the health services provider’s stock after selling 38 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in The Cigna Group were worth $2,983,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its position in shares of The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after buying an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares in the last quarter. IFG Advisors LLC lifted its holdings in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after acquiring an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. boosted its stake in shares of The Cigna Group by 4.7% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after purchasing an additional 31 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in shares of The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after purchasing an additional 32 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CI has been the subject of several research reports. Royal Bank of Canada dropped their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Piper Sandler reissued an “overweight” rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Up 2.3 %

Shares of NYSE CI opened at $330.71 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50 day moving average price is $336.15 and its 200-day moving average price is $338.97. The company has a market capitalization of $91.99 billion, a P/E ratio of 31.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51.

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 for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $6.77 EPS. Equities analysts forecast that The Cigna Group will post 28.5 earnings per share 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 issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, December 4th. 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.