Nordea Investment Management AB Trims Holdings in The Cigna Group (NYSE:CI)

Nordea Investment Management AB lowered its position in The Cigna Group (NYSE:CI) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,943,141 shares of the health services provider’s stock after selling 9,224 shares during the period. Nordea Investment Management AB owned approximately 0.70% of The Cigna Group worth $536,870,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AQR Capital Management LLC boosted its stake in The Cigna Group by 63.4% during the 2nd 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. Ameriprise Financial Inc. lifted its stake in The Cigna Group by 23.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after purchasing an additional 405,694 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in The Cigna Group by 145.3% in the 2nd 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 in the last quarter. International Assets Investment Management LLC boosted its holdings 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 worth $138,590,000 after purchasing an additional 399,230 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its holdings in The Cigna Group by 526.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after buying an additional 305,490 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Barclays lifted their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Stephens reaffirmed an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $396.38.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $280.70 on Monday. The firm has a market capitalization of $78.08 billion, a PE ratio of 26.48, a P/E/G ratio of 0.88 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 business has a 50-day moving average of $308.20 and a two-hundred day moving average of $330.51.

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

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group’s payout ratio is 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.