The Cigna Group (NYSE:CI) Shares Acquired by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. boosted its position in The Cigna Group (NYSE:CI) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,788 shares of the health services provider’s stock after purchasing an additional 102 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in The Cigna Group were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cedar Wealth Management LLC purchased a new position in The Cigna Group during the first quarter worth about $29,000. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group in the second quarter worth approximately $33,000. Ulland Investment Advisors LLC grew its holdings in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in The Cigna Group during the second quarter worth approximately $66,000. Finally, Private Ocean LLC raised its stake in The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Up 2.8 %

Shares of The Cigna Group stock opened at $358.56 on Thursday. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The stock has a market capitalization of $101.86 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.05 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The business’s 50 day simple moving average is $350.30 and its 200-day simple moving average is $344.56.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the previous year, the company posted $6.13 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. Equities research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.56%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $392.79.

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.