The Cigna Group (NYSE:CI) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its holdings in The Cigna Group (NYSE:CI - Free Report) by 5.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,640,708 shares of the health services provider's stock after selling 142,571 shares during the period. Franklin Resources Inc. owned 0.95% of The Cigna Group worth $930,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC increased its stake in shares of The Cigna Group by 63.4% in the 2nd 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 last quarter. Ameriprise Financial Inc. raised its stake in The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider's stock worth $706,822,000 after purchasing an additional 405,694 shares during the period. The Manufacturers Life Insurance Company boosted its holdings 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 last quarter. International Assets Investment Management LLC grew its stake in shares of 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 during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in shares of 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 last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CI shares. Piper Sandler restated an "overweight" rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Stephens restated an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Royal Bank of Canada cut 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. StockNews.com cut The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $394.64.

The Cigna Group Stock Down 0.4 %

Shares of CI traded down $1.10 during mid-day trading on Friday, reaching $281.86. The company's stock had a trading volume of 2,954,844 shares, compared to its average volume of 1,580,713. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The Cigna Group has a 12-month low of $279.88 and a 12-month high of $370.83. The stock has a market cap of $78.40 billion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50. The company's 50 day moving average is $327.65 and its 200 day moving average is $337.08.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion for the quarter, compared to analysts' expectations of $59.58 billion. During the same quarter last year, the company earned $6.77 earnings per share. The firm's revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.99%. The Cigna Group's dividend payout ratio is presently 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.