Resona Asset Management Co. Ltd. Takes Position in The Cigna Group (NYSE:CI)

Resona Asset Management Co. Ltd. acquired a new position in The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 89,874 shares of the health services provider's stock, valued at approximately $24,849,000.

Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in shares of The Cigna Group by 0.5% during the fourth quarter. Wells Fargo & Company MN now owns 607,272 shares of the health services provider's stock worth $167,692,000 after purchasing an additional 3,155 shares in the last quarter. Unison Advisors LLC boosted its stake in The Cigna Group by 0.4% during the 4th quarter. Unison Advisors LLC now owns 12,394 shares of the health services provider's stock worth $3,422,000 after purchasing an additional 48 shares during the last quarter. ExodusPoint Capital Management LP boosted its stake in The Cigna Group by 106.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 22,616 shares of the health services provider's stock worth $6,245,000 after purchasing an additional 11,641 shares during the last quarter. World Investment Advisors grew its holdings in shares of The Cigna Group by 115.7% during the fourth quarter. World Investment Advisors now owns 3,495 shares of the health services provider's stock worth $965,000 after buying an additional 1,875 shares in the last quarter. Finally, Nicolet Advisory Services LLC raised its position in shares of The Cigna Group by 6.3% in the fourth quarter. Nicolet Advisory Services LLC now owns 938 shares of the health services provider's stock valued at $262,000 after buying an additional 56 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

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The Cigna Group Stock Up 0.2 %

Shares of CI traded up $0.58 during mid-day trading on Friday, hitting $327.85. 484,504 shares of the company's stock were exchanged, compared to its average volume of 1,682,688. 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 cap of $89.72 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 0.98 and a beta of 0.51. The stock's 50-day moving average is $311.28 and its 200-day moving average is $311.44. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 quarter in the previous year, the firm posted $6.79 earnings per share. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This is a boost from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.84%. The ex-dividend date was Wednesday, March 5th. The Cigna Group's payout ratio is 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm's 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 sale, the chief executive officer now owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elder Granger sold 2,376 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company's stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,751 shares of company stock valued at $13,603,991. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CI. Guggenheim began coverage on shares of The Cigna Group in a research report on Wednesday. They set a "buy" rating and a $384.00 price target on the stock. Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Piper Sandler restated an "overweight" rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. UBS Group lowered their price target on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research report on Monday, February 3rd. Finally, Truist Financial raised their price objective on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a "buy" rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $375.00.

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.