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

Nomura Asset Management Co. Ltd. raised its stake in shares of The Cigna Group (NYSE:CI) by 6.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 112,113 shares of the health services provider’s stock after buying an additional 6,634 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in The Cigna Group were worth $30,959,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CI. CreativeOne Wealth LLC boosted its holdings in The Cigna Group by 3.0% during the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock worth $422,000 after buying an additional 35 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of The Cigna Group by 5.5% in the third quarter. Public Sector Pension Investment Board now owns 11,603 shares of the health services provider’s stock worth $4,020,000 after acquiring an additional 600 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of The Cigna Group by 10.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 61,725 shares of the health services provider’s stock worth $21,389,000 after acquiring an additional 5,642 shares in the last quarter. Captrust Financial Advisors grew its position in shares of The Cigna Group by 21.9% during the 3rd quarter. Captrust Financial Advisors now owns 29,272 shares of the health services provider’s stock valued at $10,141,000 after acquiring an additional 5,262 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in shares of The Cigna Group by 22.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 507,299 shares of the health services provider’s stock valued at $175,749,000 after purchasing an additional 91,637 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI opened at $324.97 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock’s fifty day moving average is $304.67 and its two-hundred day moving average is $313.78. The firm has a market capitalization of $88.94 billion, a P/E ratio of 26.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 firm posted $6.79 EPS. On average, research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

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

Insider Transactions at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 in the last 90 days. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CI shares. Morgan Stanley lowered their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company cut their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Piper Sandler reiterated an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Finally, Truist Financial reduced 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 research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $373.25.

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.