Gateway Investment Advisers LLC Sells 1,864 Shares of The Cigna Group (NYSE:CI)

Gateway Investment Advisers LLC reduced its holdings in The Cigna Group (NYSE:CI) by 8.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 19,780 shares of the health services provider’s stock after selling 1,864 shares during the quarter. Gateway Investment Advisers LLC’s holdings in The Cigna Group were worth $5,462,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC increased its stake in 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 valued at $510,467,000 after purchasing an additional 600,215 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in The Cigna Group by 23.4% during 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 purchasing an additional 405,694 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of The Cigna Group by 145.3% in the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after acquiring an additional 404,791 shares during the period. International Assets Investment Management LLC boosted its position in shares of The Cigna Group by 49,287.7% in the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in The Cigna Group by 526.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after buying an additional 305,490 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the subject of a number of research reports. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Truist Financial reduced their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft reduced their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Barclays upped their target price on shares of 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 dropped their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. One investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $395.93.

The Cigna Group Stock Performance

NYSE:CI opened at $284.16 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. 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’s 50 day simple moving average is $302.08 and its two-hundred day simple moving average is $327.07. The company has a market cap of $79.04 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping 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 analysts’ expectations of $59.58 billion. During the same period in the previous year, the company earned $6.77 EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

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

The Cigna Group 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.