The Cigna Group (NYSE:CI) Shares Sold by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC trimmed its position in shares of The Cigna Group (NYSE:CI) by 50.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,362 shares of the health services provider’s stock after selling 1,398 shares during the quarter. Pallas Capital Advisors LLC’s holdings in The Cigna Group were worth $376,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CI. Envestnet Asset Management Inc. raised its position in The Cigna Group by 3.4% in the second quarter. Envestnet Asset Management Inc. now owns 307,177 shares of the health services provider’s stock worth $101,544,000 after acquiring an additional 10,011 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of The Cigna Group by 425.9% during the 2nd quarter. Renaissance Technologies LLC now owns 169,659 shares of the health services provider’s stock worth $56,084,000 after purchasing an additional 137,400 shares during the period. Mutual of America Capital Management LLC increased its holdings in shares of The Cigna Group by 2.1% in the 2nd quarter. Mutual of America Capital Management LLC now owns 43,895 shares of the health services provider’s stock valued at $14,510,000 after purchasing an additional 902 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of The Cigna Group by 13.8% in the second quarter. Mercer Global Advisors Inc. ADV now owns 66,980 shares of the health services provider’s stock valued at $22,142,000 after purchasing an additional 8,133 shares during the period. Finally, Argent Trust Co lifted its stake in shares of The Cigna Group by 3.0% in the second quarter. Argent Trust Co now owns 3,877 shares of the health services provider’s stock valued at $1,282,000 after purchasing an additional 114 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered 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 research report on Monday, November 4th. Barclays upped their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Royal Bank of Canada reduced their price objective 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. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $395.93.

The Cigna Group Stock Performance

Shares of CI opened at $284.49 on Thursday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company’s 50 day simple moving average is $303.49 and its 200 day simple moving average is $327.70. The company has a market capitalization of $79.13 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 0.88 and a beta of 0.54. 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 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 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 business’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 company posted $6.77 EPS. On average, sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

About The Cigna Group

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.