Massachusetts Financial Services Co. MA Raises Position in The Cigna Group (NYSE:CI)

Massachusetts Financial Services Co. MA increased its position in shares of The Cigna Group (NYSE:CI) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,054,958 shares of the health services provider’s stock after purchasing an additional 130,048 shares during the period. The Cigna Group makes up approximately 1.1% of Massachusetts Financial Services Co. MA’s portfolio, making the stock its 11th largest position. Massachusetts Financial Services Co. MA owned about 3.97% of The Cigna Group worth $3,829,880,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in shares of The Cigna Group during the 1st quarter worth $101,000. CreativeOne Wealth LLC purchased a new position in The Cigna Group in the first quarter valued at about $454,000. Capital World Investors increased its holdings in The Cigna Group by 0.6% in the first quarter. Capital World Investors now owns 1,186,982 shares of the health services provider’s stock valued at $431,100,000 after buying an additional 6,549 shares in the last quarter. Linscomb Wealth Inc. lifted its position in shares of The Cigna Group by 0.4% during the 1st quarter. Linscomb Wealth Inc. now owns 10,261 shares of the health services provider’s stock valued at $3,727,000 after acquiring an additional 43 shares during the period. Finally, LRI Investments LLC purchased a new stake in shares of The Cigna Group during the 1st quarter worth approximately $1,831,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI opened at $323.36 on Thursday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50 day simple moving average is $336.78 and its 200 day simple moving average is $339.03. The stock has a market capitalization of $89.94 billion, a PE ratio of 30.51, a P/E/G ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the previous year, the company earned $6.77 EPS. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.73%. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analysts Set New Price Targets

CI has been the topic of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. 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. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Barclays raised their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $394.64.

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.