The Cigna Group (NYSE:CI) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of The Cigna Group (NYSE:CI) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 810,129 shares of the health services provider’s stock after selling 62,355 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of The Cigna Group worth $242,593,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bogart Wealth LLC grew its holdings in The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of The Cigna Group during the third quarter valued at $26,000. Fairfield Bush & CO. acquired a new stake in shares of The Cigna Group during the second quarter valued at $28,000. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group during the fourth quarter valued at $29,000. Finally, Optimum Investment Advisors boosted its stake in shares of The Cigna Group by 110.0% during the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of CI opened at $349.84 on Monday. The firm has a market cap of $102.28 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.07 and a beta of 0.56. The stock has a 50 day moving average of $346.49 and a 200-day moving average of $313.73. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $4.96 EPS. As a group, analysts forecast that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $1.40 dividend. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 annualized dividend and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Analyst Ratings Changes

Several research firms recently weighed in on CI. Morgan Stanley reiterated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Wells Fargo & Company raised their price objective on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $355.00 to $370.00 in a report on Thursday, February 1st. Mizuho increased their target price on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $362.14.

Insider Buying and Selling

In related news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the sale, the insider now owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 38,065 shares of The Cigna Group stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 114,144 shares of company stock valued at $39,296,330. Insiders own 0.70% of the company’s stock.

The 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.