Sumitomo Mitsui Trust Group Inc. Grows Position in The Cigna Group (NYSE:CI)

Sumitomo Mitsui Trust Group Inc. boosted its stake in The Cigna Group (NYSE:CI) by 1.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 784,034 shares of the health services provider’s stock after buying an additional 13,814 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in The Cigna Group were worth $271,621,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Inspire Advisors LLC acquired a new stake in shares of The Cigna Group in the first quarter valued at $234,000. Avantax Advisory Services Inc. boosted its stake in shares of The Cigna Group by 8.5% in the first quarter. Avantax Advisory Services Inc. now owns 3,612 shares of the health services provider’s stock valued at $1,312,000 after purchasing an additional 284 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of The Cigna Group by 4.4% in the first quarter. Bleakley Financial Group LLC now owns 6,747 shares of the health services provider’s stock valued at $2,450,000 after purchasing an additional 285 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in The Cigna Group by 2.4% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 170,884 shares of the health services provider’s stock worth $62,063,000 after buying an additional 4,038 shares during the period. Finally, TD Asset Management Inc lifted its holdings in The Cigna Group by 13.8% during the 1st quarter. TD Asset Management Inc now owns 246,601 shares of the health services provider’s stock worth $89,563,000 after buying an additional 29,838 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

The Cigna Group Stock Performance

Shares of CI opened at $343.20 on Tuesday. The company’s 50 day simple moving average is $341.35 and its 200-day simple moving average is $340.18. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The firm has a market cap of $95.46 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.77 earnings per share. As a group, equities analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.63%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CI shares. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Barclays increased their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $394.64.

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.