The Cigna Group (NYSE:CI) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its holdings in The Cigna Group (NYSE:CI) by 6.3% in the fourth quarter, HoldingsChannel reports. The firm owned 112,113 shares of the health services provider’s stock after buying an additional 6,634 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in The Cigna Group were worth $30,959,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. TCTC Holdings LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in shares of The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the fourth quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group in the fourth quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group during the 4th quarter worth approximately $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Cordani sold 26,527 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last 90 days. 0.70% of the stock is currently owned by insiders.

The Cigna Group Trading Up 0.1 %

Shares of The Cigna Group stock opened at $324.97 on Friday. 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 market capitalization of $88.94 billion, a P/E ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company’s fifty day moving average is $304.67 and its two-hundred day moving average is $313.78.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business posted $6.79 EPS. Analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is presently 49.35%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CI. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Wells Fargo & Company decreased their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $373.25.

The Cigna Group 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.