Mitsubishi UFJ Asset Management Co. Ltd. Acquires 30,669 Shares of The Cigna Group (NYSE:CI)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of The Cigna Group (NYSE:CI) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 442,464 shares of the health services provider’s stock after purchasing an additional 30,669 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of The Cigna Group worth $124,200,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Sterling Financial Group Inc. bought a new stake in shares of The Cigna Group in the 4th quarter valued at about $4,367,000. Principal Financial Group Inc. boosted its holdings in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its position in The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after purchasing an additional 858 shares during the period. Valley Wealth Managers Inc. raised its holdings in The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co lifted its position in shares of The Cigna Group by 28.3% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after purchasing an additional 3,466 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other The Cigna Group news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $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. In the last ninety days, insiders have sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is owned by insiders.

The Cigna Group Trading Up 1.1 %

Shares of CI stock opened at $324.74 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 company has a market capitalization of $88.88 billion, a price-to-earnings ratio of 26.53, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a 50-day simple moving average of $303.86 and a two-hundred day simple moving average of $314.31.

The Cigna Group (NYSE:CI) last released 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 period in the prior year, the business earned $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CI shares. Raymond James reiterated a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Cantor Fitzgerald lifted their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Finally, StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $373.25.

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.