Meiji Yasuda Life Insurance Co Raises Stock Position in The Cigna Group (NYSE:CI)

Meiji Yasuda Life Insurance Co raised its position in The Cigna Group (NYSE:CI) by 26.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,700 shares of the health services provider’s stock after acquiring an additional 763 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in The Cigna Group were worth $1,344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners boosted its holdings in shares of The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares during the period. Cedar Wealth Management LLC bought a new position in The Cigna Group in the 1st quarter valued at about $29,000. Raleigh Capital Management Inc. increased its stake in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after buying an additional 41 shares during the period. Pineridge Advisors LLC bought a new stake in shares of The Cigna Group during the 4th quarter worth about $37,000. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 1.2 %

CI traded down $4.28 during midday trading on Wednesday, hitting $348.49. 1,465,395 shares of the company’s stock traded hands, compared to its average volume of 1,555,086. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $99.00 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.06 and a beta of 0.52. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The stock’s fifty day simple moving average is $335.57 and its 200-day simple moving average is $338.48.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the previous year, the firm earned $5.41 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.61%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity at The Cigna Group

In other news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the transaction, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Elder Granger sold 1,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total value of $338,080.00. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Noelle K. Eder sold 10,700 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares in the company, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock worth $7,975,726 in the last 90 days. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CI. Oppenheimer lifted their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 20th. Robert W. Baird started coverage on shares of The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price on the stock. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, JPMorgan Chase & Co. boosted their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $376.20.

About The Cigna Group

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.