Mizuho Markets Americas LLC Acquires Shares of 12,084 The Cigna Group (NYSE:CI)

Mizuho Markets Americas LLC acquired a new stake in shares of The Cigna Group (NYSE:CI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,084 shares of the health services provider’s stock, valued at approximately $4,389,000.

A number of other large investors have also recently added to or reduced their stakes in CI. Silicon Valley Capital Partners boosted its stake in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $29,000. Raleigh Capital Management Inc. grew its stake in shares of The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. Pineridge Advisors LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $43,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CI. JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Oppenheimer lifted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $376.20.

The Cigna Group Stock Down 1.4 %

Shares of The Cigna Group stock traded down $4.68 on Friday, hitting $335.84. 1,169,194 shares of the company traded hands, compared to its average volume of 1,449,816. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The company has a market cap of $95.40 billion, a PE ratio of 27.57, a PEG ratio of 1.02 and a beta of 0.52. The company has a 50-day moving average price of $335.33 and a 200 day moving average price of $336.61.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the previous year, the company posted $5.41 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. Sell-side analysts predict that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 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 was Tuesday, June 4th. The Cigna Group’s payout ratio is presently 45.98%.

Insider Buying and Selling at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elder Granger sold 547 shares of the business’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 over the last ninety days. 0.60% of the stock is currently owned by insiders.

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.