Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,502 Shares of The Cigna Group (NYSE:CI)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in The Cigna Group (NYSE:CI) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,118 shares of the health services provider’s stock after purchasing an additional 1,502 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in The Cigna Group were worth $9,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. raised its stake in The Cigna Group by 3.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 25,517 shares of the health services provider’s stock worth $7,046,000 after buying an additional 915 shares during the period. State of Alaska Department of Revenue raised its position in shares of The Cigna Group by 7.7% during the fourth quarter. State of Alaska Department of Revenue now owns 39,315 shares of the health services provider’s stock worth $10,855,000 after purchasing an additional 2,820 shares during the period. Adero Partners LLC lifted its holdings in shares of The Cigna Group by 6.5% during the 4th quarter. Adero Partners LLC now owns 839 shares of the health services provider’s stock valued at $232,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of The Cigna Group by 9.8% in the 4th quarter. Bleakley Financial Group LLC now owns 7,517 shares of the health services provider’s stock valued at $2,076,000 after purchasing an additional 668 shares during the period. Finally, Confluence Wealth Services Inc. increased its stake in The Cigna Group by 6.9% during the 4th quarter. Confluence Wealth Services Inc. now owns 1,512 shares of the health services provider’s stock worth $446,000 after purchasing an additional 98 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CI has been the subject of several research analyst reports. Stephens reduced their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group reduced their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a research note on Thursday. Truist Financial reduced 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. Finally, Oppenheimer dropped their target price on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group currently has an average rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Stock Performance

NYSE CI opened at $286.67 on Friday. The firm’s fifty day moving average price is $290.87 and its two-hundred day moving average price is $323.07. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market capitalization of $79.74 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the company earned $6.79 earnings per share. As a group, research analysts anticipate that The Cigna Group will post 29.66 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.11%. The Cigna Group’s payout ratio is presently 45.75%.

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.