The Cigna Group (NYSE:CI) Shares Purchased by Portfolio Design Labs LLC

Portfolio Design Labs LLC raised its position in The Cigna Group (NYSE:CI - Free Report) by 59.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,073 shares of the health services provider's stock after acquiring an additional 3,000 shares during the quarter. Portfolio Design Labs LLC's holdings in The Cigna Group were worth $2,229,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its stake in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. Massachusetts Financial Services Co. MA grew 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 valued at $3,829,880,000 after purchasing an additional 130,048 shares during the last quarter. Geode Capital Management LLC increased 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 valued at $2,021,563,000 after acquiring an additional 22,408 shares in the last quarter. Parnassus Investments LLC raised its stake in shares of The Cigna Group by 2.1% in the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider's stock worth $1,012,340,000 after purchasing an additional 59,011 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in The Cigna Group by 2.1% during the 3rd 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 period. Institutional investors own 86.99% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CI. Stephens lowered their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Raymond James reissued a "strong-buy" rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald dropped their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $373.69.

The Cigna Group Trading Down 2.6 %

CI stock traded down $7.70 during trading on Friday, hitting $292.12. The company had a trading volume of 1,579,577 shares, compared to its average volume of 1,953,796. The firm has a market capitalization of $81.25 billion, a P/E ratio of 23.87, a PEG ratio of 0.94 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a 50 day simple moving average of $286.46 and a 200-day simple moving average of $321.09.

The Cigna Group (NYSE:CI - Get Free Report) last issued 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm earned $6.79 EPS. As a group, research analysts forecast that The Cigna Group will post 29.8 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase 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 2.07%. The Cigna Group's payout ratio is currently 45.75%.

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.