MML Investors Services LLC Grows Position in The Cigna Group (NYSE:CI)

MML Investors Services LLC grew its holdings in The Cigna Group (NYSE:CI - Free Report) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,633 shares of the health services provider's stock after acquiring an additional 1,760 shares during the period. MML Investors Services LLC's holdings in The Cigna Group were worth $10,266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of CI. FMR LLC lifted its holdings 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 worth $4,929,978,000 after purchasing an additional 279,880 shares during the period. Massachusetts Financial Services Co. MA raised its position in The Cigna Group by 1.2% during the 3rd 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 buying an additional 130,048 shares during the last quarter. Parnassus Investments LLC lifted its stake in shares of The Cigna Group by 2.1% in 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 acquiring an additional 59,011 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of The Cigna Group by 6.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider's stock valued at $869,078,000 after acquiring an additional 150,765 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $751,414,000 after acquiring an additional 44,810 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Royal Bank of Canada lowered 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. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Stephens reiterated an "overweight" rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald restated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. 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, the company has an average rating of "Buy" and a consensus target price of $394.64.

The Cigna Group Trading Down 5.6 %

Shares of CI traded down $17.43 on Wednesday, hitting $293.94. 4,300,617 shares of the stock traded hands, compared to its average volume of 1,562,852. The Cigna Group has a 1 year low of $288.88 and a 1 year high of $370.83. The stock's 50 day moving average is $329.73 and its two-hundred day moving average is $337.77. The firm 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 company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.77 EPS. As a group, sell-side analysts predict that The Cigna Group will post 28.49 earnings per share for the current year.

The Cigna Group Dividend Announcement

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