Mitsubishi UFJ Trust & Banking Corp Decreases Stake in Cigna Group (NYSE:CI)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Cigna Group (NYSE:CI) by 4.5% in the first quarter, Holdings Channel reports. The fund owned 298,164 shares of the health services provider’s stock after selling 13,967 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cigna Group were worth $98,096,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CI. Two Sigma Investments LP lifted its position in shares of Cigna Group by 32.6% during the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock worth $211,219,000 after buying an additional 188,235 shares during the last quarter. Humankind Investments LLC lifted its position in shares of Cigna Group by 12.1% during the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after buying an additional 571 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Cigna Group during the 1st quarter worth approximately $123,000. SBI Securities Co. Ltd. lifted its position in shares of Cigna Group by 18.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider’s stock worth $131,000 after buying an additional 63 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Cigna Group by 79.0% during the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock worth $1,775,000 after buying an additional 2,381 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CI. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Truist Financial upped their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Wall Street Zen downgraded shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Barclays reduced their price target on shares of Cigna Group from $385.00 to $354.00 and set an “overweight” rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Cigna Group presently has an average rating of “Moderate Buy” and a consensus target price of $378.67.

Cigna Group Stock Performance

NYSE:CI opened at $262.26 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $370.83. The stock has a market cap of $70.06 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.81 and a beta of 0.47. The firm’s fifty day simple moving average is $308.90 and its 200-day simple moving average is $311.92.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion for the quarter, compared to analysts’ expectations of $62.61 billion. During the same period in the prior year, the company posted $6.72 EPS. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. Analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.3%. Cigna Group’s dividend payout ratio is 33.44%.

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.