The Cigna Group (NYSE:CI) Shares Purchased by Fmr LLC

Fmr LLC raised its holdings in The Cigna Group (NYSE:CI) by 2.0% in the third quarter, Holdings Channel.com reports. The fund owned 14,230,397 shares of the health services provider’s stock after buying an additional 279,880 shares during the quarter. Fmr LLC owned approximately 0.05% of The Cigna Group worth $4,929,978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of The Cigna Group by 1.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after acquiring an additional 130,048 shares during the period. Parnassus Investments LLC boosted its position in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after purchasing an additional 59,011 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after purchasing an additional 150,765 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after buying an additional 405,694 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of The Cigna Group by 63.4% during the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after buying an additional 600,215 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CI shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 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. Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada cut their price target 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. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Up 1.3 %

CI opened at $332.73 on Tuesday. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The business has a 50-day moving average of $334.74 and a two-hundred day moving average of $338.63. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market capitalization of $92.55 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51.

The Cigna Group (NYSE:CI) last released its 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 Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. On average, research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) 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.