New York Life Investment Management LLC Acquires 191 Shares of The Cigna Group (NYSE:CI)

New York Life Investment Management LLC raised its holdings in shares of The Cigna Group (NYSE:CI) by 0.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,652 shares of the health services provider’s stock after acquiring an additional 191 shares during the quarter. New York Life Investment Management LLC’s holdings in The Cigna Group were worth $11,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of 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 worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in The Cigna Group by 1.2% in the 3rd 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 purchasing an additional 130,048 shares in the last quarter. Geode Capital Management LLC boosted its holdings in The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after purchasing an additional 22,408 shares during the period. Parnassus Investments LLC grew its position 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of The Cigna Group by 2.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after purchasing an additional 44,810 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. Deutsche Bank Aktiengesellschaft dropped their price objective on 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. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. UBS Group dropped their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Stephens decreased their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $372.31.

The Cigna Group Price Performance

CI stock opened at $303.39 on Friday. The firm has a market cap of $84.39 billion, a P/E ratio of 24.79, a P/E/G ratio of 0.98 and a beta of 0.54. The firm’s fifty day moving average is $288.90 and its 200 day moving average is $318.87. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 firm earned $6.79 EPS. Research analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.99%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

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.