Gulf International Bank UK Ltd Has $6.03 Million Stock Holdings in The Cigna Group (NYSE:CI)

Gulf International Bank UK Ltd cut its position in shares of The Cigna Group (NYSE:CI) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,850 shares of the health services provider’s stock after selling 218 shares during the quarter. Gulf International Bank UK Ltd’s holdings in The Cigna Group were worth $6,033,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in The Cigna Group by 1.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock worth $3,829,880,000 after purchasing an additional 130,048 shares during the period. Geode Capital Management LLC lifted its stake in The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after purchasing an additional 22,408 shares during the period. Parnassus Investments LLC lifted its stake in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock worth $1,012,340,000 after purchasing an additional 59,011 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in The Cigna Group by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after purchasing an additional 44,810 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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 research note on Monday, November 4th. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research note on Thursday, February 6th. Barclays cut their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Truist Financial cut their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $305.15 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a fifty day moving average of $288.33 and a two-hundred day moving average of $318.98. The stock has a market capitalization of $84.88 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. As a group, equities research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

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.