The Cigna Group (NYSE:CI) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

by · The Markets Daily

Tokio Marine Asset Management Co. Ltd. lifted its position in The Cigna Group (NYSE:CI – Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,637 shares of the health services provider’s stock after acquiring an additional 288 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in The Cigna Group were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after buying an additional 2,017,333 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of The Cigna Group by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. AQR Capital Management LLC raised its holdings in The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after purchasing an additional 600,215 shares during the period. Swedbank AB purchased a new position in The Cigna Group during the first quarter worth approximately $161,300,000. Finally, Ameriprise Financial Inc. grew its holdings in The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock valued at $706,822,000 after purchasing an additional 405,694 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Down 2.5 %

Shares of The Cigna Group stock opened at $323.88 on Friday. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The stock has a market cap of $90.09 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.02 and a beta of 0.51. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average price of $340.14 and a 200 day moving average price of $340.02.

The Cigna Group (NYSE:CI – Get Free Report) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the previous year, the company posted $6.77 earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.73%. The Cigna Group’s dividend payout ratio is presently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. Royal Bank of Canada reduced their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, November 1st. Finally, Jefferies Financial Group raised their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $394.64.

Check Out Our Latest Research Report on CI

Insider Buying and Selling at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 13.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

The Cigna Group Profile

(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.

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