Daiwa Securities Group Inc. Increases Position in The Cigna Group (NYSE:CI)

Daiwa Securities Group Inc. increased its position in The Cigna Group (NYSE:CI) by 9.2% in the second quarter, HoldingsChannel.com reports. The fund owned 34,046 shares of the health services provider’s stock after buying an additional 2,857 shares during the period. Daiwa Securities Group Inc.’s holdings in The Cigna Group were worth $11,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Asset Advisory Services LLC raised its stake in shares of The Cigna Group by 2.3% in the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after purchasing an additional 29 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC increased its stake in shares of The Cigna Group by 10.6% in the first quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after acquiring an additional 32 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after purchasing an additional 32 shares during the last quarter. Finally, Saxony Capital Management LLC lifted its position in The Cigna Group by 5.3% during the second quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock valued at $211,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other The Cigna Group news, insider Brian C. Evanko sold 4,795 shares of the business’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 sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,033 shares of company stock worth $2,757,740. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CI. Robert W. Baird began coverage on The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average price target of $387.00.

The Cigna Group Stock Up 0.1 %

NYSE CI opened at $358.11 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.64. The business’s fifty day simple moving average is $341.89 and its 200-day simple moving average is $343.82. The firm has a market cap of $100.11 billion, a PE ratio of 29.40, a P/E/G ratio of 1.08 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $6.13 EPS. As a group, equities analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

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.