Chevy Chase Trust Holdings LLC Has $47.69 Million Stock Position in Cigna Group (NYSE:CI)

Chevy Chase Trust Holdings LLC reduced its stake in shares of Cigna Group (NYSE:CI - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,963 shares of the health services provider's stock after selling 2,402 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Cigna Group worth $47,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its holdings in Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after acquiring an additional 501,320 shares during the period. Sanders Capital LLC increased its holdings in Cigna Group by 2.0% in the fourth quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after purchasing an additional 154,420 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cigna Group by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock valued at $1,640,878,000 after buying an additional 101,737 shares during the period. GQG Partners LLC lifted its stake in Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after buying an additional 737,099 shares during the period. Finally, Norges Bank bought a new position in Cigna Group during the fourth quarter worth about $867,785,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Analysts Set New Price Targets

CI has been the topic of a number of analyst reports. Robert W. Baird cut their price target on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Mizuho increased their target price on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Cantor Fitzgerald boosted their price target on shares of Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research note on Thursday. Finally, Morgan Stanley boosted their target price on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has a consensus rating of "Buy" and a consensus price target of $380.39.

Cigna Group Stock Performance

CI stock traded up $12.66 during trading hours on Thursday, reaching $328.66. The stock had a trading volume of 2,453,546 shares, compared to its average volume of 1,714,609. The stock has a market capitalization of $87.80 billion, a PE ratio of 18.20, a price-to-earnings-growth ratio of 0.94 and a beta of 0.44. The stock has a 50-day simple moving average of $320.73 and a 200 day simple moving average of $307.64. 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 0.65, a current ratio of 0.72 and a quick ratio of 0.72.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter last year, the company posted $6.47 earnings per share. Cigna Group's quarterly revenue was up 14.4% on a year-over-year basis. Analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's dividend payout ratio is presently 33.44%.

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.