Park Avenue Securities LLC Cuts Stock Holdings in The Cigna Group (NYSE:CI)

Park Avenue Securities LLC lowered its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 13.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,623 shares of the health services provider's stock after selling 1,697 shares during the quarter. Park Avenue Securities LLC's holdings in The Cigna Group were worth $2,933,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. FMR LLC increased its stake 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 in the last quarter. Massachusetts Financial Services Co. MA increased its stake 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 in the last quarter. Geode Capital Management LLC increased its stake in The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider's stock worth $2,021,563,000 after buying an additional 22,408 shares in the last quarter. Parnassus Investments LLC raised its holdings 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 acquiring an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Trading Up 1.1 %

NYSE CI traded up $3.19 during trading hours on Friday, reaching $284.16. The company had a trading volume of 1,892,393 shares, compared to its average volume of 1,544,036. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $79.04 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The stock has a 50-day moving average of $302.08 and a 200 day moving average of $327.07. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

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 earnings per share for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion during the quarter, compared to analysts' expectations of $59.58 billion. During the same quarter last year, the company posted $6.77 EPS. The firm's quarterly revenue was up 29.8% on a year-over-year basis. As a group, research analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a 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 brokerages recently commented on CI. Piper Sandler reiterated an "overweight" rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their target price 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. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of "Buy" and a consensus price target of $395.93.

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.