Nomura Asset Management Co. Ltd. Buys 9,172 Shares of Cigna Group $CI

Nomura Asset Management Co. Ltd. boosted its stake in Cigna Group (NYSE:CI) by 8.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 114,550 shares of the health services provider’s stock after buying an additional 9,172 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cigna Group were worth $37,868,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flaharty Asset Management LLC bought a new position in shares of Cigna Group in the 1st quarter worth approximately $28,000. 1248 Management LLC bought a new stake in shares of Cigna Group during the first quarter valued at approximately $29,000. Solstein Capital LLC purchased a new stake in Cigna Group in the second quarter worth $29,000. Chilton Capital Management LLC purchased a new stake in Cigna Group in the second quarter worth $30,000. Finally, Activest Wealth Management raised its holdings in Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other Cigna Group news, CEO David Cordani acquired 4,134 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average cost of $241.88 per share, with a total value of $999,931.92. Following the completion of the transaction, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This represents a 2.69% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the sale, the insider owned 51,182 shares of the company’s stock, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CI shares. UBS Group set a $294.00 target price on shares of Cigna Group in a report on Wednesday, November 12th. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. TD Cowen cut their price objective on shares of Cigna Group from $387.00 to $333.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. JPMorgan Chase & Co. decreased their target price on shares of Cigna Group from $428.00 to $375.00 and set an “overweight” rating for the company in a research note on Tuesday, November 4th. Finally, Truist Financial dropped their price target on Cigna Group from $375.00 to $310.00 in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and a consensus price target of $334.05.

Cigna Group Stock Up 0.4%

Shares of Cigna Group stock opened at $272.50 on Wednesday. The company has a 50-day simple moving average of $288.56 and a two-hundred day simple moving average of $299.97. The stock has a market capitalization of $72.79 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44. Cigna Group has a 52-week low of $239.51 and a 52-week high of $350.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $69.57 billion for the quarter, compared to analysts’ expectations of $66.40 billion. During the same quarter in the prior year, the company posted $7.51 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $1.51 dividend. The ex-dividend date is Thursday, December 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group’s payout ratio is currently 26.64%.

About 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.