Asset Management One Co. Ltd. Has $37.95 Million Stock Holdings in Cigna Group (NYSE:CI)

Asset Management One Co. Ltd. lowered its stake in Cigna Group (NYSE:CI - Free Report) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,355 shares of the health services provider's stock after selling 10,543 shares during the period. Asset Management One Co. Ltd.'s holdings in Cigna Group were worth $37,952,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. TCTC Holdings LLC bought a new position in Cigna Group in the fourth quarter valued at approximately $25,000. Putney Financial Group LLC bought a new position in Cigna Group in the fourth quarter valued at approximately $36,000. Transce3nd LLC bought a new position in Cigna Group in the fourth quarter valued at approximately $38,000. Ameriflex Group Inc. bought a new position in Cigna Group in the fourth quarter valued at approximately $44,000. Finally, Heck Capital Advisors LLC bought a new position in Cigna Group in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Stock Up 4.0%

Shares of NYSE:CI traded up $12.66 during midday trading on Thursday, reaching $328.66. 2,453,546 shares of the company were exchanged, compared to its average volume of 1,714,609. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a fifty day simple moving average of $320.73 and a two-hundred day simple moving average of $307.64. The firm has a market cap of $87.80 billion, a PE ratio of 18.20, a P/E/G ratio of 0.94 and a beta of 0.44.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The firm had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same period in the previous year, the business earned $6.47 EPS. The company's revenue was up 14.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.84%. Cigna Group's payout ratio is currently 33.44%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Mizuho raised their price objective on shares of Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Truist Financial raised their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Morgan Stanley lifted their price target on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Cantor Fitzgerald lifted their price target on shares of Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Finally, Robert W. Baird reduced their price target on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Cigna Group currently has an average rating of "Buy" and an average target price of $380.39.

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.