Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in The Cigna Group (NYSE:CI)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in The Cigna Group (NYSE:CI) by 7.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 442,464 shares of the health services provider’s stock after buying an additional 30,669 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in The Cigna Group were worth $124,200,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of CI. TCTC Holdings LLC purchased a new stake in The Cigna Group during the 4th quarter worth about $25,000. Collier Financial purchased a new stake in shares of The Cigna Group in the fourth quarter worth about $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the fourth quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group during the fourth quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC bought a new stake in The Cigna Group during the 4th quarter worth approximately $53,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Cigna Group

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

The Cigna Group Price Performance

CI opened at $324.74 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $303.86 and its 200 day simple moving average is $314.31. The firm has a market cap of $88.88 billion, a price-to-earnings ratio of 26.53, 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 Cigna Group (NYSE:CI) last issued its 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CI shares. Truist Financial cut their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Barclays reduced their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and set a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and an average target price 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.