Mitsubishi UFJ Trust & Banking Corp Sells 13,656 Shares of The Cigna Group (NYSE:CI)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of The Cigna Group (NYSE:CI) by 4.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 312,131 shares of the health services provider’s stock after selling 13,656 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in The Cigna Group were worth $86,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eagle Asset Management Inc. boosted its position in The Cigna Group by 21.7% in the third quarter. Eagle Asset Management Inc. now owns 10,397 shares of the health services provider’s stock worth $3,325,000 after purchasing an additional 1,855 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in The Cigna Group by 13.5% during the third quarter. Nicolet Advisory Services LLC now owns 882 shares of the health services provider’s stock worth $300,000 after buying an additional 105 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in The Cigna Group by 3.5% in the third quarter. Great Valley Advisor Group Inc. now owns 8,227 shares of the health services provider’s stock worth $2,850,000 after acquiring an additional 279 shares during the period. Larson Financial Group LLC grew its position in shares of The Cigna Group by 56.3% during the 3rd quarter. Larson Financial Group LLC now owns 261 shares of the health services provider’s stock valued at $90,000 after acquiring an additional 94 shares during the period. Finally, Cahill Financial Advisors Inc. purchased a new stake in The Cigna Group in the third quarter worth $379,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of several research reports. Stephens cut their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. 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 on the stock. in a research note on Thursday, February 6th. Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group dropped their target price on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Truist Financial reduced their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $373.25.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 in the last three months. Company insiders own 0.60% of the company’s stock.

The Cigna Group Stock Up 1.3 %

Shares of NYSE CI opened at $320.79 on Tuesday. The firm has a fifty day simple moving average of $301.62 and a two-hundred day simple moving average of $314.45. The firm has a market capitalization of $87.79 billion, a PE ratio of 26.21, a price-to-earnings-growth 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 has a 12 month low of $262.03 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business posted $6.79 earnings per share. Equities analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

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.