The Cigna Group (NYSE:CI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in The Cigna Group (NYSE:CI - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,814 shares of the health services provider's stock after selling 58,879 shares during the period. Allspring Global Investments Holdings LLC owned 0.09% of The Cigna Group worth $68,022,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. FMR LLC raised its position in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock worth $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of The Cigna Group by 1.2% during 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 purchasing an additional 130,048 shares during the period. Geode Capital Management LLC grew its stake in shares of 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 purchasing an additional 22,408 shares during the period. Parnassus Investments LLC grew its stake in shares of 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 valued at $1,012,340,000 after purchasing an additional 59,011 shares during the period. 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% during 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 valued at $751,414,000 after purchasing an additional 44,810 shares during the period. Institutional investors own 86.99% of the company's stock.

The Cigna Group Trading Down 2.6 %

Shares of NYSE:CI traded down $7.70 on Friday, hitting $292.12. 1,579,577 shares of the company's stock were exchanged, compared to its average volume of 1,953,796. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a market capitalization of $81.25 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The business's 50 day simple moving average is $286.46 and its two-hundred day simple moving average is $320.86. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the company earned $6.79 EPS. Analysts anticipate that The Cigna Group will post 29.8 EPS 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. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's payout ratio is 45.75%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CI shares. StockNews.com downgraded The Cigna Group from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Morgan Stanley cut their price target on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald cut their price target 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. Stephens cut their price objective on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $373.69.

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.