Daiichi Life Insurance Co. Ltd. Invests $2.30 Million in Cigna Group $CI

Key Points

• Daiichi Life Insurance purchased 8,333 Cigna shares worth approximately $2.30 million in the second quarter, while institutional investors collectively own 86.99% of the company.
• Analysts maintain a generally positive outlook, with Cigna receiving a “Moderate Buy” consensus rating and an average price target of $339.45; recent targets ranged from $307 to $361.
• Cigna exceeded quarterly earnings expectations with adjusted EPS of $7.78 versus $7.60 forecast, while revenue rose 6.7% year over year. The company also declared a quarterly dividend of $1.56, equal to a 2.3% annualized yield.

Daiichi Life Insurance Co. Ltd. purchased a new stake in Cigna Group (NYSE:CI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,333 shares of the health services provider's stock, valued at approximately $2,297,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Wilkerson Advisory Group LLC acquired a new position in Cigna Group in the 4th quarter worth about $25,000. Cedar Mountain Advisors LLC boosted its stake in shares of Cigna Group by 161.9% during the first quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider's stock valued at $29,000 after purchasing an additional 68 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Cigna Group during the second quarter valued at about $29,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cigna Group during the fourth quarter worth about $29,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of Cigna Group during the fourth quarter worth about $29,000. Institutional investors own 86.99% of the company's stock.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 2,677 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider directly owned 25,880 shares in the company, valued at approximately $7,236,306.80. This trade represents a 9.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the transaction, the chief accounting officer directly owned 2,368 shares in the company, valued at $707,108.48. The trade was a 27.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,012 shares of company stock valued at $6,386,550 over the last three months. 0.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CI shares. Guggenheim raised their price objective on shares of Cigna Group from $338.00 to $361.00 and gave the company a "buy" rating in a report on Friday, July 31st. Piper Sandler reduced their target price on shares of Cigna Group from $370.00 to $346.00 and set an "overweight" rating on the stock in a report on Wednesday, June 3rd. Wells Fargo & Company upped their price target on shares of Cigna Group from $305.00 to $307.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Mizuho raised their price target on shares of Cigna Group from $330.00 to $340.00 and gave the company an "outperform" rating in a research note on Monday, June 8th. Finally, Raymond James Financial lowered shares of Cigna Group from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $350.00 to $320.00 in a report on Monday, August 3rd. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, Cigna Group presently has an average rating of "Moderate Buy" and an average target price of $339.45.

Cigna Group Trading Down 0.5%

CI opened at $276.19 on Monday. The stock has a market cap of $72.98 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 0.95 and a beta of 0.29. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $284.20 and a 200-day moving average of $281.45. Cigna Group has a twelve month low of $239.51 and a twelve month high of $315.47.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, beating the consensus estimate of $7.60 by $0.18. The company had revenue of $70.04 billion for the quarter, compared to analyst estimates of $70.14 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%.The firm's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.20 EPS. Cigna Group has set its FY 2026 guidance at 30.450- EPS. On average, sell-side analysts predict that Cigna Group will post 30.51 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be given a $1.56 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $6.24 annualized dividend and a yield of 2.3%. Cigna Group's dividend payout ratio (DPR) is presently 25.82%.

About Cigna Group

Cigna Group NYSE: CI is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.

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