Meiji Yasuda Asset Management Co Ltd. Purchases 4,916 Shares of The Cigna Group (NYSE:CI)

Meiji Yasuda Asset Management Co Ltd. raised its position in The Cigna Group (NYSE:CI) by 93.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,162 shares of the health services provider’s stock after buying an additional 4,916 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in The Cigna Group were worth $2,806,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CI. First American Trust FSB acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $4,471,000. Ashton Thomas Securities LLC increased its position in The Cigna Group by 24.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 2,018 shares of the health services provider’s stock valued at $557,000 after acquiring an additional 393 shares in the last quarter. GQG Partners LLC raised its stake in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock worth $1,110,520,000 after acquiring an additional 737,099 shares during the last quarter. Modern Wealth Management LLC lifted its position in shares of The Cigna Group by 74.6% during the fourth quarter. Modern Wealth Management LLC now owns 1,624 shares of the health services provider’s stock worth $476,000 after purchasing an additional 694 shares in the last quarter. Finally, EntryPoint Capital LLC grew its stake in shares of The Cigna Group by 86.0% during the fourth quarter. EntryPoint Capital LLC now owns 1,680 shares of the health services provider’s stock valued at $464,000 after purchasing an additional 777 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Down 1.2 %

NYSE:CI opened at $316.64 on Wednesday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a 50-day moving average price of $302.25 and a two-hundred day moving average price of $314.19. The stock has a market cap of $86.66 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 0.98 and a beta of 0.53. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm earned $6.79 EPS. As a group, equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The Cigna Group’s dividend payout ratio is presently 49.35%.

Insiders Place Their Bets

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. This represents a 30.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CI. Stephens reduced their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Finally, Sanford C. Bernstein downgraded 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 note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $373.25.

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.