Massachusetts Financial Services Co. MA Lowers Holdings in Cigna Group $CI

by · The Markets Daily

Massachusetts Financial Services Co. MA lowered its holdings in Cigna Group (NYSE:CI – Free Report) by 7.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,901,749 shares of the health services provider’s stock after selling 876,723 shares during the quarter. Cigna Group accounts for 1.0% of Massachusetts Financial Services Co. MA’s holdings, making the stock its 13th largest holding. Massachusetts Financial Services Co. MA’s holdings in Cigna Group were worth $3,142,429,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Valeo Financial Advisors LLC increased its position in shares of Cigna Group by 86,071.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after purchasing an additional 3,471,249 shares during the last quarter. Norges Bank purchased a new position in Cigna Group during the second quarter worth about $1,110,426,000. Arrowstreet Capital Limited Partnership increased its position in shares of Cigna Group by 24.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,508,740 shares of the health services provider’s stock valued at $829,339,000 after acquiring an additional 492,045 shares during the last quarter. Balyasny Asset Management L.P. raised its stake in shares of Cigna Group by 1,057.2% in the 2nd quarter. Balyasny Asset Management L.P. now owns 404,753 shares of the health services provider’s stock valued at $133,803,000 after acquiring an additional 369,775 shares during the period. Finally, Man Group plc lifted its holdings in shares of Cigna Group by 215.5% in the 2nd quarter. Man Group plc now owns 532,183 shares of the health services provider’s stock worth $175,929,000 after acquiring an additional 363,510 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CI has been the subject of several research reports. Sanford C. Bernstein reiterated a “market perform” rating and issued a $307.00 target price on shares of Cigna Group in a report on Tuesday, January 6th. Mizuho set a $325.00 target price on Cigna Group in a research note on Friday, January 9th. The Goldman Sachs Group dropped their target price on Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. Jefferies Financial Group reissued a “buy” rating and set a $310.00 price target on shares of Cigna Group in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Cigna Group in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $330.48.

View Our Latest Research Report on CI

Insider Activity

In other news, CEO David Cordani acquired 4,134 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were bought at an average price of $241.88 per share, with a total value of $999,931.92. Following the completion of the acquisition, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Cigna Group Price Performance

Shares of NYSE CI opened at $272.29 on Friday. The stock’s 50-day simple moving average is $273.63 and its 200-day simple moving average is $287.08. The firm has a market capitalization of $72.74 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.96 and a beta of 0.26. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 0.76.

Cigna Group (NYSE:CI – Get Free Report) last announced its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, beating the consensus estimate of $7.64 by $0.19. The company had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm posted $7.51 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a $1.51 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.2%. Cigna Group’s payout ratio is 26.64%.

Cigna Group Profile

(Free Report)

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.

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