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

Wellington Management Group LLP reduced its stake in shares of The Cigna Group (NYSE:CI) by 14.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,180 shares of the health services provider’s stock after selling 2,641 shares during the quarter. Wellington Management Group LLP’s holdings in The Cigna Group were worth $5,259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ulland Investment Advisors LLC increased its stake in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during the period. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the third quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group in the third quarter worth about $45,000. Private Ocean LLC raised its holdings in The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares during the last quarter. Finally, Intact Investment Management Inc. acquired a new position in The Cigna Group during the 3rd quarter valued at about $69,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Down 3.1 %

NYSE CI opened at $273.19 on Tuesday. The company has a market cap of $75.99 billion, a PE ratio of 25.77, a PEG ratio of 0.88 and a beta of 0.50. The Cigna Group has a 12 month low of $271.88 and a 12 month high of $370.83. The stock has a 50 day moving average of $325.11 and a 200-day moving average of $336.37. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted $6.77 EPS. On average, equities research analysts anticipate that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CI. JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. One 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $394.64.

The 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.