Mufg Securities Americas Inc. Purchases New Holdings in The Cigna Group (NYSE:CI)

Mufg Securities Americas Inc. purchased a new stake in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,107 shares of the health services provider’s stock, valued at approximately $1,134,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $724,517,000. Raymond James Financial Inc. acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $313,911,000. GQG Partners LLC lifted its position in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after buying an additional 737,099 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of The Cigna Group by 4.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider’s stock valued at $3,191,151,000 after buying an additional 501,320 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $303.11 on Thursday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock’s fifty day moving average price is $325.30 and its two-hundred day moving average price is $309.89. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The firm has a market cap of $80.97 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter last year, the company posted $6.47 EPS. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.99%. The Cigna Group’s payout ratio is 33.44%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stephens cut their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Guggenheim reissued a “buy” rating and set a $388.00 price target (up from $384.00) on shares of The Cigna Group in a report on Monday, May 5th. UBS Group dropped their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Mizuho lifted their price target on The Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, April 9th. Finally, Robert W. Baird dropped their price target on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $379.33.

The 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.