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

Daiwa Securities Group Inc. lifted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,743 shares of the health services provider's stock after buying an additional 5,126 shares during the period. Daiwa Securities Group Inc.'s holdings in The Cigna Group were worth $16,498,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CI. Collier Financial bought a new position in The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group during the fourth quarter valued at approximately $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the third quarter valued at approximately $37,000. Compagnie Lombard Odier SCmA acquired a new stake in The Cigna Group during the fourth quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $53,000. Institutional investors own 86.99% of the company's stock.

Insider Buying and Selling

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred on 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 sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,375 shares of company stock worth $12,866,600 in the last ninety days. 0.60% of the stock is owned by insiders.

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The Cigna Group Price Performance

CI traded down $9.44 during trading on Tuesday, reaching $317.24. 1,955,263 shares of the company were exchanged, compared to its average volume of 1,870,027. The company's 50-day moving average is $294.70 and its two-hundred day moving average is $317.14. The company has a market cap of $86.82 billion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 0.98 and a beta of 0.53. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last released 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 period in the previous year, the firm posted $6.79 earnings per share. Research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.90%. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Analysts Set New Price Targets

CI has been the topic of several research reports. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a research note on Thursday, February 6th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a report on Friday, January 31st. Morgan Stanley decreased their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Piper Sandler reissued an "overweight" rating and issued a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, UBS Group reduced their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Two investment 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 stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of "Buy" and a consensus price target of $372.31.

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.