Lazard Freres Gestion S.A.S. Has $1.37 Million Position in The Cigna Group (NYSE:CI)

Lazard Freres Gestion S.A.S. raised its holdings in The Cigna Group (NYSE:CI) by 8.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,956 shares of the health services provider’s stock after purchasing an additional 300 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in The Cigna Group were worth $1,370,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings 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 acquiring an additional 600,215 shares during the last quarter. Swedbank AB bought a new position in The Cigna Group during the first quarter worth $161,300,000. Ameriprise Financial Inc. increased its holdings in shares of The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after purchasing an additional 405,694 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of The Cigna Group by 145.3% in the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock valued at $225,899,000 after purchasing an additional 404,791 shares during the period. Finally, International Assets Investment Management LLC lifted its stake 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 buying an additional 399,230 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. Barclays boosted their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $394.64.

The Cigna Group Trading Down 0.2 %

The Cigna Group stock traded down $0.55 during trading hours on Tuesday, hitting $332.46. The stock had a trading volume of 53,806 shares, compared to its average volume of 1,540,364. The business’s 50 day simple moving average is $334.74 and its 200-day simple moving average is $338.63. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The stock has a market cap of $92.47 billion, a price-to-earnings ratio of 31.39, a P/E/G ratio of 0.99 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter last year, the business earned $6.77 EPS. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The Cigna Group’s payout ratio is 52.83%.

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.