Meiji Yasuda Asset Management Co Ltd. Buys 4,916 Shares of The Cigna Group (NYSE:CI)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of The Cigna Group (NYSE:CI) by 93.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,162 shares of the health services provider’s stock after purchasing an additional 4,916 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in The Cigna Group were worth $2,806,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Sterling Financial Group Inc. bought a new position in The Cigna Group during the fourth quarter worth about $4,367,000. Principal Financial Group Inc. increased its holdings in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after acquiring an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after acquiring an additional 858 shares during the period. Valley Wealth Managers Inc. boosted its position in The Cigna Group by 2.8% during the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in shares of The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In other news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Performance

NYSE CI opened at $316.64 on Wednesday. The firm’s 50 day simple moving average is $302.25 and its 200 day simple moving average is $314.19. The firm has a market capitalization of $86.66 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business posted $6.79 earnings per share. As a group, research analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald raised their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Morgan Stanley reduced their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Wells Fargo & Company decreased their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research note on Friday, January 31st. Finally, Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $373.25.

About The Cigna Group

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.