Mizuho Securities USA LLC Grows Stock Position in The Cigna Group (NYSE:CI)

Mizuho Securities USA LLC lifted its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 45.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,363 shares of the health services provider's stock after purchasing an additional 8,236 shares during the quarter. Mizuho Securities USA LLC's holdings in The Cigna Group were worth $7,280,000 at the end of the most recent reporting period.

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

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Insider Buying and Selling at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the transaction, the insider now owns 13,406 shares of the company's stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

CI has been the subject of several recent analyst reports. Wells Fargo & Company lowered their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Morgan Stanley cut their price target on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Cantor Fitzgerald upped their target price 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. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Finally, Piper Sandler reiterated an "overweight" rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen 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 company presently has a consensus rating of "Buy" and an average price target of $373.25.

The Cigna Group Trading Up 1.1 %

Shares of NYSE CI traded up $3.51 during midday trading on Thursday, hitting $324.74. The company's stock had a trading volume of 1,285,344 shares, compared to its average volume of 1,563,920. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The business's 50 day moving average is $302.98 and its two-hundred day moving average is $314.24. The firm has a market cap of $88.88 billion, a P/E ratio of 26.53, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts' consensus estimates 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 quarter in the previous year, the company posted $6.79 EPS. As a group, equities research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's payout ratio is currently 49.35%.

The Cigna Group Company 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.