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Mitsubishi UFJ Trust & Banking Corp Has $98.10 Million Position in Cigna Group (NYSE:CI)

Cigna Group logo with Medical background

Key Points

  • Mitsubishi UFJ Trust & Banking Corp reduced its stake in Cigna Group by 4.5%, now holding 298,164 shares valued at approximately $98 million, representing 0.11% of the company.
  • Cigna recently reported a quarterly earnings of $7.20 per share, exceeding analysts' estimates, with revenue climbing to $67.13 billion, an 11% increase year-over-year.
  • The company declared a quarterly dividend of $1.51 per share, which translates to an annual yield of 2.3%, with the ex-dividend date set for September 4th.
  • MarketBeat previews top five stocks to own in September.

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Cigna Group (NYSE:CI - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 298,164 shares of the health services provider's stock after selling 13,967 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of Cigna Group worth $98,096,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CI. IFG Advisory LLC increased its holdings in shares of Cigna Group by 9.4% during the first quarter. IFG Advisory LLC now owns 7,189 shares of the health services provider's stock worth $2,365,000 after buying an additional 618 shares in the last quarter. SPC Financial Inc. increased its holdings in shares of Cigna Group by 70.8% during the first quarter. SPC Financial Inc. now owns 4,834 shares of the health services provider's stock worth $1,590,000 after buying an additional 2,003 shares in the last quarter. TIAA Trust National Association increased its holdings in shares of Cigna Group by 6.8% during the first quarter. TIAA Trust National Association now owns 12,055 shares of the health services provider's stock worth $3,966,000 after buying an additional 770 shares in the last quarter. Baker Avenue Asset Management LP acquired a new stake in shares of Cigna Group during the first quarter worth approximately $283,000. Finally, EagleClaw Capital Managment LLC increased its holdings in shares of Cigna Group by 6.3% during the first quarter. EagleClaw Capital Managment LLC now owns 13,156 shares of the health services provider's stock worth $4,328,000 after buying an additional 777 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Trading Down 1.9%

CI traded down $5.12 during mid-day trading on Friday, hitting $262.26. The stock had a trading volume of 3,428,214 shares, compared to its average volume of 1,808,167. The stock's fifty day simple moving average is $308.90 and its 200-day simple moving average is $312.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $70.01 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.79 and a beta of 0.47. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same period last year, the business posted $6.72 earnings per share. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 32.97%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a report on Friday. Cowen reissued a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Robert W. Baird decreased 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 note on Tuesday, April 15th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $378.67.

View Our Latest Stock Analysis on Cigna Group

About Cigna Group

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Cigna Group (NYSE:CI)

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