Assenagon Asset Management S.A. Trims Stock Holdings in The Cigna Group (NYSE:CI)

Assenagon Asset Management S.A. lowered its position in shares of The Cigna Group (NYSE:CI - Free Report) by 61.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 193,109 shares of the health services provider's stock after selling 304,766 shares during the quarter. Assenagon Asset Management S.A. owned 0.07% of The Cigna Group worth $63,533,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CI. TCTC Holdings LLC purchased a new position in The Cigna Group during the fourth quarter worth $25,000. Putney Financial Group LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at about $36,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $37,000. Transce3nd LLC purchased a new position in The Cigna Group during the 4th quarter worth $38,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of The Cigna Group during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

CI has been the subject of a number of research analyst reports. Piper Sandler raised their target price on The Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Barclays restated an "overweight" rating and set a $385.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, June 2nd. Wall Street Zen upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Mizuho raised their target price on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Finally, Robert W. Baird lowered their price target on shares of The Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and an average price target of $380.39.

The Cigna Group Trading Up 0.4%

Shares of NYSE:CI traded up $1.34 during midday trading on Friday, reaching $316.71. 1,169,288 shares of the company's stock were exchanged, compared to its average volume of 1,710,174. The firm's 50 day simple moving average is $322.23 and its two-hundred day simple moving average is $308.70. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market cap of $84.61 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 0.98 and a beta of 0.44.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the firm earned $6.47 EPS. The business's revenue was up 14.4% on a year-over-year basis. As a group, sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The Cigna Group's dividend payout ratio is currently 33.44%.

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.