Mattson Financial Services LLC Cuts Position in The Cigna Group (NYSE:CI)

Mattson Financial Services LLC lessened its stake in The Cigna Group (NYSE:CI) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,476 shares of the health services provider’s stock after selling 57 shares during the quarter. Mattson Financial Services LLC’s holdings in The Cigna Group were worth $2,802,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Visionary Wealth Advisors raised its holdings in The Cigna Group by 5.5% during the 4th quarter. Visionary Wealth Advisors now owns 3,145 shares of the health services provider’s stock valued at $942,000 after acquiring an additional 165 shares during the period. Ethic Inc. raised its holdings in The Cigna Group by 3.9% during the 4th quarter. Ethic Inc. now owns 46,983 shares of the health services provider’s stock valued at $14,069,000 after acquiring an additional 1,776 shares during the period. Credit Capital Investments LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $210,000. 8 Knots Management LLC bought a new position in shares of The Cigna Group in the fourth quarter worth $67,709,000. Finally, Cobalt Capital Management Inc. bought a new position in shares of The Cigna Group in the fourth quarter worth $2,396,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.1 %

Shares of NYSE:CI opened at $343.93 on Wednesday. The stock’s 50-day moving average price is $348.41 and its 200-day moving average price is $344.90. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The stock has a market capitalization of $97.70 billion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same period last year, the firm earned $6.13 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, equities analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.63%. The Cigna Group’s payout ratio is presently 45.98%.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CI shares. JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler started coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. Barclays increased their target price on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $392.79.

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.