Mutual of America Capital Management LLC Sells 1,362 Shares of The Cigna Group (NYSE:CI)

Mutual of America Capital Management LLC lowered its position in The Cigna Group (NYSE:CI) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 40,597 shares of the health services provider’s stock after selling 1,362 shares during the period. Mutual of America Capital Management LLC’s holdings in The Cigna Group were worth $11,210,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock valued at $4,929,978,000 after buying an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in 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 valued at $3,829,880,000 after buying an additional 130,048 shares during the last quarter. Geode Capital Management LLC lifted its stake in The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after acquiring an additional 22,408 shares in the last quarter. Parnassus Investments LLC boosted its holdings in The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after acquiring an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of The Cigna Group by 2.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after acquiring an additional 44,810 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $308.66 on Friday. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market cap of $85.85 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The stock has a 50-day moving average price of $289.54 and a 200-day moving average price of $318.63.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the business earned $6.79 EPS. As a group, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.96%. The Cigna Group’s payout ratio is 49.35%.

Analysts Set New Price Targets

Several equities analysts have commented on CI shares. Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Cantor Fitzgerald reduced their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $372.31.

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.