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

Massachusetts Financial Services Co. MA lifted its stake in shares of The Cigna Group (NYSE:CI) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,054,958 shares of the health services provider’s stock after buying an additional 130,048 shares during the quarter. The Cigna Group accounts for approximately 1.1% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 11th largest holding. Massachusetts Financial Services Co. MA’s holdings in The Cigna Group were worth $3,829,880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Checchi Capital Advisers LLC lifted its position in shares of The Cigna Group by 0.9% during the second quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after purchasing an additional 31 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in The Cigna Group by 1.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after buying an additional 31 shares in the last quarter. IFG Advisors LLC boosted its position in The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after buying an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. grew its stake in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after acquiring an additional 31 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after acquiring an additional 32 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Price Performance

NYSE:CI opened at $323.36 on Thursday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. 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 firm has a market cap of $89.94 billion, a P/E ratio of 30.51, a PEG ratio of 0.97 and a beta of 0.51. The business’s 50-day moving average price is $336.78 and its 200 day moving average price is $339.03.

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, topping 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 for the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The business’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal 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 given a dividend of $1.40 per share. 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 1.73%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Stephens reaffirmed an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Barclays raised their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price 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.