Tokio Marine Asset Management Co. Ltd. Purchases 565 Shares of The Cigna Group (NYSE:CI)

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of The Cigna Group (NYSE:CIFree Report) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,291 shares of the health services provider’s stock after purchasing an additional 565 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in The Cigna Group were worth $2,648,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CI. Sanders Capital LLC boosted its stake in shares of The Cigna Group by 1.3% during the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after buying an additional 97,277 shares during the last quarter. Morgan Stanley lifted its stake in The Cigna Group by 4.7% in the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after purchasing an additional 225,115 shares during the last quarter. Norges Bank acquired a new stake in The Cigna Group in the 4th quarter valued at about $1,006,348,000. Parnassus Investments LLC lifted its stake in The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after purchasing an additional 126,598 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in The Cigna Group by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock valued at $592,451,000 after purchasing an additional 53,414 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of several research reports. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research report on Wednesday, June 12th. Piper Sandler started coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. Oppenheimer lifted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $376.20.

Read Our Latest Stock Report on The Cigna Group

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Elder Granger sold 547 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the completion of the transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,988 shares of company stock worth $7,975,726. Insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $319.12 on Monday. The stock has a market capitalization of $90.65 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 0.97 and a beta of 0.52. The firm’s fifty day simple moving average is $338.32 and its two-hundred day simple moving average is $334.46. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71.

The Cigna Group (NYSE:CIGet Free Report) last posted its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same quarter in the prior year, the business posted $5.41 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. As a group, analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.75%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

About The Cigna Group

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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