Gateway Investment Advisers LLC Cuts Stock Position in The Cigna Group (NYSE:CI)

Gateway Investment Advisers LLC trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 8.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,780 shares of the health services provider’s stock after selling 1,864 shares during the period. Gateway Investment Advisers LLC’s holdings in The Cigna Group were worth $5,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of The Cigna Group by 35.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,068 shares of the health services provider’s stock valued at $295,000 after acquiring an additional 279 shares in the last quarter. BluePath Capital Management LLC grew its holdings in The Cigna Group by 32.7% in the fourth quarter. BluePath Capital Management LLC now owns 3,118 shares of the health services provider’s stock valued at $881,000 after purchasing an additional 768 shares during the last quarter. Assenagon Asset Management S.A. raised its position in The Cigna Group by 68.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after acquiring an additional 202,161 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth $1,029,000. Finally, Pines Wealth Management LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $274,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Barclays upped their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Truist Financial decreased their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Stock Performance

CI opened at $284.16 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $79.04 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The business has a 50 day moving average price of $302.08 and a two-hundred day moving average price of $327.07. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results 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 business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the business earned $6.77 earnings per share. Research analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

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.