Wellington Management Group LLP Sells 2,641 Shares of The Cigna Group (NYSE:CI)

Wellington Management Group LLP lowered its stake in The Cigna Group (NYSE:CI) by 14.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,180 shares of the health services provider’s stock after selling 2,641 shares during the period. Wellington Management Group LLP’s holdings in The Cigna Group were worth $5,259,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Two Sigma Advisers LP grew its position in shares of The Cigna Group by 995.9% in the third quarter. Two Sigma Advisers LP now owns 215,900 shares of the health services provider’s stock valued at $74,796,000 after purchasing an additional 196,200 shares during the last quarter. SYM FINANCIAL Corp grew its holdings in The Cigna Group by 12.5% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,287 shares of the health services provider’s stock valued at $446,000 after buying an additional 143 shares in the last quarter. Quantinno Capital Management LP increased its position in The Cigna Group by 28.7% during the 3rd quarter. Quantinno Capital Management LP now owns 23,047 shares of the health services provider’s stock worth $7,985,000 after buying an additional 5,140 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of The Cigna Group by 1.3% during the third quarter. Royal London Asset Management Ltd. now owns 120,711 shares of the health services provider’s stock worth $41,819,000 after buying an additional 1,607 shares in the last quarter. Finally, Redwood Investment Management LLC boosted its position in shares of The Cigna Group by 3.9% in the third quarter. Redwood Investment Management LLC now owns 4,383 shares of the health services provider’s stock valued at $1,524,000 after acquiring an additional 164 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Barclays boosted their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $273.19 on Tuesday. The company’s 50 day moving average price is $325.11 and its two-hundred day moving average price is $336.37. The firm has a market capitalization of $75.99 billion, a P/E ratio of 25.77, a P/E/G ratio of 0.88 and a beta of 0.50. 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 Cigna Group has a fifty-two week low of $271.88 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the firm earned $6.77 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, equities analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

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.