Mufg Securities Americas Inc. Purchases Shares of 4,107 The Cigna Group (NYSE:CI)

Mufg Securities Americas Inc. purchased a new stake in The Cigna Group (NYSE:CI) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,107 shares of the health services provider’s stock, valued at approximately $1,134,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Kesler Norman & Wride LLC boosted its stake in shares of The Cigna Group by 1.8% during the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock valued at $562,000 after purchasing an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. boosted its stake in shares of The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock valued at $520,000 after purchasing an additional 36 shares in the last quarter. Meridian Wealth Management LLC boosted its stake in shares of The Cigna Group by 1.0% during the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider’s stock valued at $1,013,000 after purchasing an additional 37 shares in the last quarter. Mindset Wealth Management LLC boosted its stake in shares of The Cigna Group by 2.6% during the 4th quarter. Mindset Wealth Management LLC now owns 1,469 shares of the health services provider’s stock valued at $406,000 after purchasing an additional 37 shares in the last quarter. Finally, Jacobi Capital Management LLC boosted its stake in shares of The Cigna Group by 2.2% during the 4th quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider’s stock valued at $483,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.4%

Shares of The Cigna Group stock opened at $303.11 on Thursday. 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 stock has a market capitalization of $80.97 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a 50-day simple moving average of $325.30 and a two-hundred day simple moving average of $309.89.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The firm had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same period in the previous year, the business posted $6.47 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.99%. The Cigna Group’s dividend payout ratio is presently 33.44%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CI. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research note on Friday, January 31st. Cowen reissued a “buy” rating on shares of The Cigna Group in a research report on Monday, May 5th. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Robert W. Baird lowered their price target on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald lifted their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $379.33.

Insider Transactions at The Cigna Group

In related news, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. The trade was a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the business’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 $39,367,568.04. This trade represents a 17.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently owned by company insiders.

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.