19,999 Shares in The Cigna Group (NYSE:CI) Bought by MUFG Securities EMEA plc

MUFG Securities EMEA plc purchased a new position in shares of The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 19,999 shares of the health services provider’s stock, valued at approximately $5,989,000.

A number of other institutional investors have also recently added to or reduced their stakes in CI. Cape Investment Advisory Inc. lifted its holdings in The Cigna Group by 24.1% in the 4th quarter. Cape Investment Advisory Inc. now owns 206 shares of the health services provider’s stock worth $62,000 after buying an additional 40 shares in the last quarter. Linscomb & Williams Inc. raised its stake in shares of The Cigna Group by 1.4% in the 4th quarter. Linscomb & Williams Inc. now owns 10,218 shares of the health services provider’s stock valued at $3,060,000 after purchasing an additional 138 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of The Cigna Group by 1.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 101,679 shares of the health services provider’s stock valued at $30,448,000 after purchasing an additional 1,291 shares in the last quarter. Skopos Labs Inc. acquired a new stake in shares of The Cigna Group in the 4th quarter valued at about $622,000. Finally, Congress Wealth Management LLC DE raised its stake in shares of The Cigna Group by 14.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 6,067 shares of the health services provider’s stock valued at $1,817,000 after purchasing an additional 761 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CI shares. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Barclays started coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Oppenheimer boosted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Cantor Fitzgerald boosted their price objective on shares of The Cigna Group from $384.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $366.14.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 2,000 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $345.04, for a total transaction of $690,080.00. Following the transaction, the chief executive officer now owns 336,783 shares in the company, valued at approximately $116,203,606.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO David Cordani sold 2,000 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $345.04, for a total value of $690,080.00. Following the transaction, the chief executive officer now directly owns 336,783 shares in the company, valued at approximately $116,203,606.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders have sold a total of 72,366 shares of company stock worth $25,440,835 in the last 90 days. 0.60% of the stock is owned by insiders.

The Cigna Group Trading Down 1.5 %

Shares of NYSE:CI traded down $5.22 during mid-day trading on Friday, hitting $332.61. The stock had a trading volume of 1,311,594 shares, compared to its average volume of 1,632,541. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $94.48 billion, a PE ratio of 27.31, a P/E/G ratio of 1.01 and a beta of 0.57. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company’s 50 day moving average is $350.99 and its 200-day moving average is $323.34.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the firm earned $5.41 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, sell-side analysts predict that The Cigna Group will post 28.46 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.68%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

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.