Assenagon Asset Management S.A. Has $102.45 Million Stake in The Cigna Group (NYSE:CI)

Assenagon Asset Management S.A. lowered its position in shares of The Cigna Group (NYSE:CI) by 24.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 295,714 shares of the health services provider’s stock after selling 96,959 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of The Cigna Group worth $102,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the 1st quarter worth approximately $29,000. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC raised its holdings in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of The Cigna Group in the 2nd quarter worth approximately $66,000. Finally, Private Ocean LLC raised its holdings in shares of The Cigna Group by 29.9% in the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI traded up $2.82 during midday trading on Thursday, hitting $320.39. The company had a trading volume of 445,509 shares, compared to its average volume of 1,496,301. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock’s fifty day moving average price is $349.85 and its 200-day moving average price is $343.40. The company has a market capitalization of $91.01 billion, a PE ratio of 26.24, a P/E/G ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. During the same period in the previous year, the business earned $6.13 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, research analysts expect that The Cigna Group will post 28.48 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 paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.75%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Ratings Changes

CI has been the topic of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Piper Sandler initiated coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus price target of $392.79.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.

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.