Jennison Associates LLC Raises Holdings in The Cigna Group (NYSE:CI)

Jennison Associates LLC lifted its stake in The Cigna Group (NYSE:CI - Free Report) by 29.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 813,583 shares of the health services provider's stock after purchasing an additional 184,138 shares during the quarter. Jennison Associates LLC owned 0.29% of The Cigna Group worth $281,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CI. Price T Rowe Associates Inc. MD increased its position in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider's stock valued at $5,208,593,000 after purchasing an additional 867,180 shares during the last quarter. Parnassus Investments LLC grew its holdings in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider's stock valued at $1,012,340,000 after purchasing an additional 59,011 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of 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 valued at $869,078,000 after buying an additional 150,765 shares in the last quarter. Ameriprise Financial Inc. increased its holdings 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 worth $706,822,000 after acquiring an additional 405,694 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake 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 acquiring an additional 600,215 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Trading Up 0.2 %

CI traded up $0.61 on Wednesday, reaching $323.11. 1,011,658 shares of the company traded hands, compared to its average volume of 1,540,611. 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 company has a market cap of $89.87 billion, a P/E ratio of 30.44, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. The firm has a fifty day simple moving average of $337.46 and a two-hundred day simple moving average of $339.14. The Cigna Group has a one year low of $253.95 and a one year high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate 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 net margin of 1.31% and a return on equity of 18.42%. The company's revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.77 EPS. As a group, equities research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's payout ratio is 52.83%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com cut The Cigna Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, November 4th. Piper Sandler reiterated an "overweight" rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Royal Bank of Canada cut 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. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $394.64.

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.