The Cigna Group (NYSE:CI) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its position in The Cigna Group (NYSE:CI - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 147,365 shares of the health services provider's stock after selling 3,854 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of The Cigna Group worth $40,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CI. International Assets Investment Management LLC grew 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 purchasing an additional 399,230 shares in the last quarter. Swedbank AB boosted its stake in The Cigna Group by 55.1% during the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock worth $244,220,000 after buying an additional 314,123 shares during the last quarter. FMR LLC boosted its stake in 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 worth $4,929,978,000 after buying an additional 279,880 shares during the last quarter. Raymond James & Associates grew its holdings in The Cigna Group by 42.8% in the 3rd quarter. Raymond James & Associates now owns 860,050 shares of the health services provider's stock valued at $297,956,000 after buying an additional 257,711 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of The Cigna Group by 68.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider's stock worth $137,483,000 after acquiring an additional 202,161 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. StockNews.com lowered shares of The Cigna Group from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Royal Bank of Canada decreased their price objective on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Finally, Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $373.69.

The Cigna Group Stock Up 0.8 %

NYSE:CI traded up $2.43 during midday trading on Tuesday, reaching $294.75. The company had a trading volume of 1,783,752 shares, compared to its average volume of 1,798,671. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The firm has a market capitalization of $81.98 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 0.94 and a beta of 0.54. 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 stock's fifty day simple moving average is $285.91 and its 200-day simple moving average is $320.38.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 quarter last year, the firm posted $6.79 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.05%. The Cigna Group's dividend payout ratio (DPR) is currently 45.75%.

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.