UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 44,810 Shares of The Cigna Group (NYSE:CI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of The Cigna Group (NYSE:CI) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,168,959 shares of the health services provider’s stock after buying an additional 44,810 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.78% of The Cigna Group worth $751,414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in 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 buying an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in The Cigna Group by 1.2% during the third 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 during the last quarter. Parnassus Investments LLC lifted its holdings in shares of The Cigna Group by 2.1% during the 3rd quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after purchasing an additional 59,011 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of The Cigna Group by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after purchasing an additional 150,765 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after purchasing an additional 405,694 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective 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. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Barclays lifted their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. One 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 company’s stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Up 0.5 %

Shares of CI opened at $336.55 on Thursday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The firm has a market cap of $93.61 billion, a P/E ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The firm’s 50-day simple moving average is $333.94 and its 200 day simple moving average is $338.52. 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 Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating 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 business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the prior year, the business earned $6.77 EPS. The Cigna Group’s quarterly revenue was up 29.8% on a year-over-year basis. On average, analysts forecast that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 yield of 1.66%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

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.