MetLife Investment Management LLC Trims Stock Position in The Cigna Group (NYSE:CI)

MetLife Investment Management LLC reduced its stake in shares of The Cigna Group (NYSE:CI) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,833 shares of the health services provider’s stock after selling 3,021 shares during the period. MetLife Investment Management LLC’s holdings in The Cigna Group were worth $25,579,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hancock Whitney Corp grew its holdings in The Cigna Group by 75.6% in the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after buying an additional 1,629 shares during the period. Atria Investments Inc raised its stake in The Cigna Group by 24.8% during the first quarter. Atria Investments Inc now owns 22,911 shares of the health services provider’s stock worth $8,321,000 after purchasing an additional 4,550 shares during the period. Burney Co. raised its position in The Cigna Group by 5.7% in the first quarter. Burney Co. now owns 8,144 shares of the health services provider’s stock valued at $2,958,000 after purchasing an additional 440 shares during the period. Cetera Investment Advisers grew its stake in shares of The Cigna Group by 230.3% in the first quarter. Cetera Investment Advisers now owns 62,261 shares of the health services provider’s stock valued at $22,612,000 after buying an additional 43,414 shares in the last quarter. Finally, Cetera Advisors LLC raised its holdings in shares of The Cigna Group by 166.6% during the 1st quarter. Cetera Advisors LLC now owns 25,771 shares of the health services provider’s stock valued at $9,360,000 after buying an additional 16,103 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price 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. JPMorgan Chase & Co. lifted 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Performance

CI opened at $336.55 on Thursday. The business’s 50 day moving average is $333.94 and its 200-day moving average is $338.52. 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 stock has a market cap of $93.61 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.77 earnings per share. On average, analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 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.