Mitsubishi UFJ Trust & Banking Corp Has $86.19 Million Stock Holdings in The Cigna Group (NYSE:CI)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of The Cigna Group (NYSE:CI) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 312,131 shares of the health services provider’s stock after selling 13,656 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.11% of The Cigna Group worth $86,192,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Florida Financial Advisors LLC increased its stake in shares of The Cigna Group by 7.0% during the 4th quarter. Florida Financial Advisors LLC now owns 920 shares of the health services provider’s stock worth $254,000 after purchasing an additional 60 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of The Cigna Group by 93.7% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 10,162 shares of the health services provider’s stock valued at $2,806,000 after buying an additional 4,916 shares during the last quarter. First American Trust FSB acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $4,471,000. Ashton Thomas Securities LLC raised its stake in The Cigna Group by 24.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 2,018 shares of the health services provider’s stock valued at $557,000 after acquiring an additional 393 shares during the period. Finally, GQG Partners LLC lifted its holdings in The Cigna Group by 22.4% during the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

CI has been the topic of several research reports. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Raymond James reiterated a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald raised their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Truist Financial decreased their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Finally, Stephens dropped their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $373.25.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last ninety days. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

NYSE:CI opened at $320.79 on Tuesday. The company has a market capitalization of $87.79 billion, a PE ratio of 26.21, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company has a 50 day simple moving average of $301.62 and a two-hundred day simple moving average of $314.45.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm earned $6.79 EPS. Research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.88%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

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.