PNC Financial Services Group Inc. Purchases 7,996 Shares of The Cigna Group (NYSE:CI)

PNC Financial Services Group Inc. raised its stake in The Cigna Group (NYSE:CI) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 362,339 shares of the health services provider’s stock after acquiring an additional 7,996 shares during the period. PNC Financial Services Group Inc.’s holdings in The Cigna Group were worth $125,529,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CI. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC increased its stake in shares of 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 buying an additional 100 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the third quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of The Cigna Group during the second quarter valued at approximately $66,000. Finally, Private Ocean LLC increased its stake in shares of The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after buying an additional 46 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.1 %

NYSE CI opened at $322.70 on Wednesday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The stock has a market cap of $89.76 billion, a P/E ratio of 30.44, a P/E/G ratio of 0.97 and a beta of 0.51. The stock’s fifty day moving average price is $337.46 and its 200-day moving average price is $339.14. 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 (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion for 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 company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the company posted $6.77 earnings per share. As a group, equities analysts forecast that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is 52.83%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CI shares. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays upped their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Jefferies Financial Group upped their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $394.64.

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.