Geode Capital Management LLC Boosts Stake in The Cigna Group (NYSE:CI)

Geode Capital Management LLC increased its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,855,443 shares of the health services provider's stock after buying an additional 22,408 shares during the quarter. Geode Capital Management LLC owned 2.11% of The Cigna Group worth $2,021,563,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC grew its position in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock worth $4,929,978,000 after acquiring an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in The Cigna Group by 1.2% in 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 buying an additional 130,048 shares during the last quarter. Parnassus Investments LLC boosted its position in 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 worth $1,012,340,000 after buying an additional 59,011 shares during the period. Dimensional Fund Advisors LP grew its holdings in The Cigna Group by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider's stock worth $869,078,000 after acquiring an additional 150,765 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of The Cigna Group by 2.1% during the third 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 acquiring an additional 44,810 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CI shares. Cantor Fitzgerald restated an "overweight" rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Barclays upped 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 raised their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. Piper Sandler reissued an "overweight" rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $394.64.

The Cigna Group Stock Performance

NYSE CI traded down $17.43 during mid-day trading on Wednesday, reaching $293.94. 4,300,617 shares of the stock were exchanged, compared to its average volume of 1,562,852. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a 1 year low of $288.88 and a 1 year high of $370.83. The business's 50 day moving average is $329.73 and its 200-day moving average is $337.77. The company has a market capitalization of $81.76 billion, a P/E ratio of 28.00, a P/E/G ratio of 0.96 and a beta of 0.50.

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 return on equity of 18.42% and a net margin of 1.31%. The company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the company posted $6.77 earnings per share. The firm's revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities research analysts forecast that The Cigna Group will post 28.49 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.91%. The Cigna Group's dividend payout ratio (DPR) is 52.83%.

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.