Bridgewater Associates LP Has $112.19 Million Stake in The Cigna Group (NYSE:CI)

Bridgewater Associates LP raised its stake in The Cigna Group (NYSE:CI) by 14.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 323,836 shares of the health services provider’s stock after purchasing an additional 41,140 shares during the quarter. Bridgewater Associates LP’s holdings in The Cigna Group were worth $112,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CI. AQR Capital Management LLC boosted its holdings in The Cigna Group by 63.4% during the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after purchasing an additional 600,215 shares during the last quarter. Swedbank AB bought a new position in shares of The Cigna Group in the first quarter valued at approximately $161,300,000. Ameriprise Financial Inc. increased its position in shares of The Cigna Group by 23.4% during the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after acquiring an additional 405,694 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in The Cigna Group by 145.3% in the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock worth $225,899,000 after purchasing an additional 404,791 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of The Cigna Group by 49,287.7% during 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 purchasing an additional 399,230 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CI. Piper Sandler reissued an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Barclays increased 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. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Up 0.6 %

Shares of The Cigna Group stock opened at $335.07 on Wednesday. The stock has a market capitalization of $93.20 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 1.00 and a beta of 0.51. 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 company’s 50 day moving average price is $334.32 and its 200-day moving average price is $338.53. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 earnings per share. Equities research analysts forecast that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.67%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

The Cigna Group Company 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.