Independent Advisor Alliance Has $731,000 Stake in The Cigna Group (NYSE:CI)

Independent Advisor Alliance reduced its position in shares of The Cigna Group (NYSE:CI) by 26.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,111 shares of the health services provider’s stock after selling 741 shares during the period. Independent Advisor Alliance’s holdings in The Cigna Group were worth $731,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CI. TruNorth Capital Management LLC acquired a new position in shares of The Cigna Group during the second quarter worth about $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 valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group during the third quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in The Cigna Group during the second quarter valued at approximately $66,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. 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 report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. upped their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Price Performance

Shares of NYSE CI opened at $336.55 on Thursday. The firm has a market cap of $93.61 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. 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 Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The business’s 50 day moving average is $333.94 and its 200-day moving average is $338.52.

The Cigna Group (NYSE:CI) last announced its 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 company had revenue of $63.70 billion for 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 quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the company earned $6.77 earnings per share. Equities research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given 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 is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 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.