Assenagon Asset Management S.A. Purchases 202,161 Shares of The Cigna Group (NYSE:CI)

Assenagon Asset Management S.A. boosted its holdings in The Cigna Group (NYSE:CI - Free Report) by 68.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 497,875 shares of the health services provider's stock after purchasing an additional 202,161 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of The Cigna Group worth $137,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider's stock worth $510,467,000 after acquiring an additional 600,215 shares during the period. Ameriprise Financial Inc. boosted its stake in The Cigna Group by 23.4% in the 2nd 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 period. The Manufacturers Life Insurance Company boosted its stake in The Cigna Group by 145.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider's stock valued at $225,899,000 after purchasing an additional 404,791 shares during the period. International Assets Investment Management LLC grew its holdings in The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider's stock valued at $138,590,000 after buying an additional 399,230 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in The Cigna Group by 526.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider's stock worth $120,174,000 after buying an additional 305,490 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CI has been the subject of a number of recent research reports. StockNews.com downgraded shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased 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. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $394.00 target price (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One research 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.com, the stock has a consensus rating of "Buy" and an average price target of $395.93.

The Cigna Group Trading Down 0.2 %

NYSE CI traded down $0.54 on Wednesday, hitting $284.49. The company's stock had a trading volume of 1,711,929 shares, compared to its average volume of 1,453,203. The firm has a market cap of $79.13 billion, a PE ratio of 26.84, a PEG ratio of 0.88 and a beta of 0.54. The company's 50-day moving average is $303.49 and its 200 day moving average is $327.70. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period last year, the company earned $6.77 EPS. The Cigna Group's revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The Cigna Group's dividend payout ratio (DPR) is currently 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.