Dai ichi Life Insurance Company Ltd Purchases 17,326 Shares of The Cigna Group (NYSE:CI)

Dai ichi Life Insurance Company Ltd increased its position in The Cigna Group (NYSE:CI) by 35.6% in the third quarter, Holdings Channel.com reports. The fund owned 65,940 shares of the health services provider’s stock after acquiring an additional 17,326 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in The Cigna Group were worth $22,844,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new stake in The Cigna Group during the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the third quarter valued at approximately $37,000. Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group in the 3rd quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of The Cigna Group in the 2nd quarter worth approximately $66,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

NYSE CI opened at $332.73 on Tuesday. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a market cap of $92.55 billion, a price-to-earnings ratio of 31.39, a price-to-earnings-growth ratio of 0.99 and a beta of 0.51. The business has a fifty day moving average of $334.74 and a 200-day moving average of $338.63. 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 released its earnings results on Thursday, October 31st. The health services provider reported $7.51 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 analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.77 earnings per share. As a group, analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared 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. This represents a $5.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of recent research reports. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Barclays boosted their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada decreased their target price 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 given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $394.64.

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.