Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in The Cigna Group (NYSE:CI)

Sumitomo Mitsui Trust Group Inc. raised its holdings in The Cigna Group (NYSE:CI - Free Report) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 784,034 shares of the health services provider's stock after purchasing an additional 13,814 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.28% of The Cigna Group worth $271,621,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Cedar Wealth Management LLC purchased a new position in The Cigna Group during the first quarter valued at approximately $29,000. TruNorth Capital Management LLC purchased a new position in The Cigna Group during the second quarter valued at approximately $33,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the third quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the second quarter valued at approximately $66,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Up 0.4 %

CI stock traded up $1.27 during trading on Tuesday, hitting $344.33. 1,044,970 shares of the stock traded hands, compared to its average volume of 1,537,701. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm's 50 day moving average is $341.35 and its two-hundred day moving average is $340.18. The stock has a market cap of $95.78 billion, a price-to-earnings ratio of 32.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.77 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group's dividend payout ratio (DPR) is presently 52.83%.

Insider Transactions at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company's stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. StockNews.com lowered shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a report on Monday, November 4th. Piper Sandler reiterated an "overweight" rating and set a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Stephens reiterated an "overweight" rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $394.64.

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.