Sumitomo Mitsui Trust Group Inc. Raises Holdings in The Cigna Group (NYSE:CI)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of The Cigna Group (NYSE:CI) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 784,034 shares of the health services provider’s stock after buying an additional 13,814 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of The Cigna Group worth $271,621,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CI. Cedar Wealth Management LLC bought a new stake in The Cigna Group in the first quarter worth $29,000. TruNorth Capital Management LLC bought a new stake in The Cigna Group during the second quarter worth approximately $33,000. Ulland Investment Advisors LLC lifted its stake in shares of The Cigna Group by 2,500.0% in the 3rd 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. purchased a new position in shares of The Cigna Group in the 3rd quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group during the 2nd quarter valued at $66,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’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 completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on CI shares. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Piper Sandler reissued an “overweight” rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Stock Up 7.3 %

CI opened at $343.20 on Tuesday. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company has a 50-day moving average price of $341.35 and a 200 day moving average price of $340.18. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The company has a market cap of $95.46 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 0.96 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the company earned $6.77 EPS. The firm’s revenue was up 29.8% compared to the same quarter last year. Sell-side analysts expect that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

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

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.