Jennison Associates LLC Has $105.89 Million Position in The Cigna Group (NYSE:CI)

Jennison Associates LLC trimmed its stake in shares of The Cigna Group (NYSE:CI) by 52.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 383,460 shares of the health services provider’s stock after selling 430,123 shares during the quarter. Jennison Associates LLC’s holdings in The Cigna Group were worth $105,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new position in The Cigna Group in the third quarter valued at $37,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group during the fourth quarter valued at $34,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the third quarter valued at $45,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group during the 4th quarter worth about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Trading Down 0.6 %

Shares of The Cigna Group stock opened at $292.56 on Tuesday. 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 stock has a fifty day simple moving average of $294.40 and a 200 day simple moving average of $324.18. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a market capitalization of $81.38 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the business posted $6.79 earnings per share. On average, sell-side analysts anticipate that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley cut their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday. Piper Sandler restated an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday. StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday. Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday. Finally, Raymond James reiterated a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $378.00.

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.