Jennison Associates LLC Sells 430,123 Shares of The Cigna Group (NYSE:CI)

Jennison Associates LLC decreased its position in The Cigna Group (NYSE:CI) by 52.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 383,460 shares of the health services provider’s stock after selling 430,123 shares during the period. Jennison Associates LLC owned about 0.14% of The Cigna Group worth $105,889,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of The Cigna Group by 49,287.7% in the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock valued at $138,590,000 after acquiring an additional 399,230 shares in the last quarter. Swedbank AB grew its stake in The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after purchasing an additional 314,123 shares in the last quarter. FMR LLC grew its stake in The Cigna Group by 2.0% in the third 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 in the last quarter. Raymond James & Associates increased its position in shares of The Cigna Group by 42.8% during the 3rd quarter. Raymond James & Associates now owns 860,050 shares of the health services provider’s stock worth $297,956,000 after purchasing an additional 257,711 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after purchasing an additional 202,161 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CI shares. Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday. Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday. Finally, Oppenheimer decreased their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $378.00.

The Cigna Group Stock Down 0.6 %

Shares of CI opened at $292.56 on Tuesday. The stock has a market capitalization of $81.38 billion, a PE ratio of 23.90, a P/E/G ratio of 0.97 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $294.40 and its 200-day moving average is $324.18.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the company earned $6.79 EPS. Equities research analysts forecast that The Cigna Group will post 29.66 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. The Cigna Group’s payout ratio is presently 45.75%.

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.