Gateway Investment Advisers LLC Lowers Stock Position in The Cigna Group (NYSE:CI)

Gateway Investment Advisers LLC reduced its position in The Cigna Group (NYSE:CI - Free Report) by 8.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,780 shares of the health services provider's stock after selling 1,864 shares during the period. Gateway Investment Advisers LLC's holdings in The Cigna Group were worth $5,462,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in The Cigna Group by 63.4% during 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 purchasing an additional 600,215 shares during the last quarter. Ameriprise Financial Inc. increased its position 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 acquiring an additional 405,694 shares during the period. The Manufacturers Life Insurance Company raised its stake in The Cigna Group by 145.3% during 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 acquiring 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 purchasing an additional 399,230 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of The Cigna Group by 526.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider's stock worth $120,174,000 after purchasing an additional 305,490 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

CI traded up $3.19 during midday trading on Friday, reaching $284.16. 1,892,393 shares of the company's stock were exchanged, compared to its average volume of 1,847,029. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. 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 business's 50-day moving average price is $301.37 and its 200 day moving average price is $326.78. The stock has a market capitalization of $79.04 billion, a PE ratio of 26.81, a P/E/G ratio of 0.75 and a beta of 0.54.

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

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group's dividend payout ratio is currently 52.83%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped 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. StockNews.com cut shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Barclays raised their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Stephens reiterated an "overweight" rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and a consensus price target of $395.93.

The Cigna Group Company 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.