Meiji Yasuda Asset Management Co Ltd. Lowers Holdings in Cigna Group $CI

Meiji Yasuda Asset Management Co Ltd. lowered its position in shares of Cigna Group (NYSE:CI) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,951 shares of the health services provider’s stock after selling 211 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Cigna Group were worth $3,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. 1248 Management LLC acquired a new stake in Cigna Group in the first quarter valued at about $29,000. Activest Wealth Management grew its holdings in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after acquiring an additional 72 shares during the period. Putney Financial Group LLC purchased a new position in Cigna Group in the fourth quarter worth $36,000. Saudi Central Bank acquired a new stake in Cigna Group in the first quarter valued at $36,000. Finally, Evermay Wealth Management LLC boosted its position in shares of Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider’s stock worth $37,000 after purchasing an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Price Performance

Shares of NYSE CI opened at $300.73 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $80.27 billion, a PE ratio of 16.42, a P/E/G ratio of 0.89 and a beta of 0.48. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83. The business’s fifty day moving average price is $297.09 and its two-hundred day moving average price is $312.18.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter last year, the business earned $6.72 earnings per share. Cigna Group’s revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group’s payout ratio is presently 32.97%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CI. Royal Bank Of Canada reissued an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Cantor Fitzgerald reiterated an “overweight” rating and set a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. Robert W. Baird set a $372.00 price target on Cigna Group in a research report on Thursday, August 14th. Wells Fargo & Company lowered their price objective on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 14th. Finally, Wall Street Zen lowered shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cigna Group presently has an average rating of “Buy” and an average target price of $374.76.

Insider Activity

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by company insiders.

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.