UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $751.41 Million Holdings in The Cigna Group (NYSE:CI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of The Cigna Group (NYSE:CI) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,168,959 shares of the health services provider’s stock after purchasing an additional 44,810 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in The Cigna Group were worth $751,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CI. AQR Capital Management LLC grew its position in shares of 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 in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of The Cigna Group by 23.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after acquiring an additional 405,694 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of The Cigna Group by 145.3% during 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 acquiring an additional 404,791 shares during the period. International Assets Investment Management LLC lifted 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 acquiring an additional 399,230 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of The Cigna Group by 526.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock worth $120,174,000 after acquiring an additional 305,490 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI stock opened at $336.55 on Thursday. The company has a fifty day moving average price of $333.94 and a 200-day moving average price of $338.52. The company has a market capitalization of $93.61 billion, a P/E ratio of 31.75, a PEG ratio of 1.00 and a beta of 0.51. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm 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 revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.77 earnings per share. As a group, equities analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The company 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 dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CI shares. Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their price target on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler reissued an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group has an average rating of “Buy” and an average target price of $394.64.

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.