FUKOKU MUTUAL LIFE INSURANCE Co Lowers Holdings in The Cigna Group (NYSE:CI)

FUKOKU MUTUAL LIFE INSURANCE Co lowered its holdings in shares of The Cigna Group (NYSE:CI) by 15.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,055 shares of the health services provider’s stock after selling 197 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in The Cigna Group were worth $291,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Sterling Financial Group Inc. purchased a new stake in The Cigna Group in the 4th quarter worth $4,367,000. Marks Group Wealth Management Inc increased its holdings in shares of The Cigna Group by 3,669.7% in the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after buying an additional 23,376 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after buying an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock valued at $20,942,000 after buying an additional 858 shares in the last quarter. Finally, Valley Wealth Managers Inc. grew its position in The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after acquiring an additional 1,548 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CI shares. UBS Group decreased their price objective 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. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research report 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 objective on the stock. in a research report on Thursday, February 6th. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Finally, Truist Financial reduced their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $305.15 on Thursday. The stock has a market cap of $84.88 billion, a price-to-earnings ratio of 24.93, a PEG ratio of 0.98 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a 50 day simple moving average of $288.33 and a two-hundred day simple moving average of $318.98. 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 issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the business earned $6.79 earnings per share. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is 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 dividend yield of 1.98%. The Cigna Group’s payout ratio is currently 49.35%.

The Cigna Group 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.