Sumitomo Mitsui DS Asset Management Company Ltd Buys 604 Shares of The Cigna Group (NYSE:CI)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of The Cigna Group (NYSE:CI) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,616 shares of the health services provider’s stock after acquiring an additional 604 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in The Cigna Group were worth $11,646,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CI. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group in the first quarter valued at $29,000. TruNorth Capital Management LLC purchased a new stake in shares of The Cigna Group in the second quarter valued at about $33,000. Ulland Investment Advisors LLC raised its holdings in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of The Cigna Group in the second quarter valued at about $66,000. Finally, Private Ocean LLC raised its holdings in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Down 4.8 %

Shares of NYSE CI opened at $336.00 on Friday. The firm has a fifty day simple moving average of $350.66 and a two-hundred day simple moving average of $344.42. The firm has a market capitalization of $95.45 billion, a PE ratio of 27.59, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.13 EPS. Equities analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have recently commented on CI shares. Jefferies Financial Group increased their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Tuesday, October 1st. Finally, Piper Sandler began coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective for the company. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $392.79.

The Cigna Group Company 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.