The Cigna Group (NYSE:CI) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in The Cigna Group (NYSE:CI - Free Report) by 52.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 383,460 shares of the health services provider's stock after selling 430,123 shares during the period. Jennison Associates LLC owned about 0.14% of The Cigna Group worth $105,889,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its position in shares of 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 valued at $4,929,978,000 after buying an additional 279,880 shares during the period. Massachusetts Financial Services Co. MA increased its stake in The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider's stock worth $3,829,880,000 after purchasing an additional 130,048 shares during the period. Geode Capital Management LLC lifted its position in shares of The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider's stock worth $2,021,563,000 after purchasing an additional 22,408 shares during the last quarter. Parnassus Investments LLC boosted its stake in shares of 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The Cigna Group by 2.1% in 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 worth $751,414,000 after purchasing an additional 44,810 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 0.5 %

NYSE CI traded up $1.54 on Wednesday, hitting $293.00. The stock had a trading volume of 1,781,793 shares, compared to its average volume of 1,870,778. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The business's fifty day moving average price is $292.73 and its 200 day moving average price is $323.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market cap of $81.50 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the business earned $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.66 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 2.06%. The Cigna Group's dividend payout ratio (DPR) is 45.75%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barclays decreased their price objective 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. Stephens decreased their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald dropped their price objective on The Cigna Group from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Royal Bank of Canada decreased their target price on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Finally, Truist Financial dropped their price target on The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of "Buy" and a consensus price target of $376.63.

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.