Wellington Management Group LLP Sells 2,641 Shares of The Cigna Group (NYSE:CI)

Wellington Management Group LLP cut its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 14.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,180 shares of the health services provider's stock after selling 2,641 shares during the period. Wellington Management Group LLP's holdings in The Cigna Group were worth $5,259,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Ulland Investment Advisors LLC grew its stake in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new position in The Cigna Group in the third quarter valued at about $37,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the third quarter valued at about $45,000. Private Ocean LLC grew its stake in The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider's stock valued at $66,000 after acquiring an additional 46 shares during the period. Finally, Intact Investment Management Inc. acquired a new position in The Cigna Group in the third quarter valued at about $69,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Down 2.8 %

Shares of CI traded down $7.75 during trading hours on Tuesday, hitting $265.51. The stock had a trading volume of 4,482,831 shares, compared to its average volume of 1,603,976. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $323.54 and a 200-day simple moving average of $335.82. The firm has a market capitalization of $73.85 billion, a P/E ratio of 25.05, a price-to-earnings-growth ratio of 0.88 and a beta of 0.50. 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 released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The company's quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.77 EPS. Sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.11%. The Cigna Group's payout ratio is presently 52.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CI shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, October 23rd. Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. JPMorgan Chase & Co. upped their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 21st. Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Stephens reiterated an "overweight" rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $394.64.

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.