Cigna Group (NYSE:CI) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Cigna Group (NYSE:CI - Free Report) by 5.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,869 shares of the health services provider's stock after purchasing an additional 1,751 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Cigna Group were worth $12,130,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its stake in shares of Cigna Group by 4.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after buying an additional 501,320 shares during the last quarter. Sanders Capital LLC increased its holdings in Cigna Group by 2.0% during the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock valued at $2,224,296,000 after acquiring an additional 154,420 shares in the last quarter. Geode Capital Management LLC raised its position in Cigna Group by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock worth $1,640,878,000 after acquiring an additional 101,737 shares during the last quarter. GQG Partners LLC lifted its holdings in shares of Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Cigna Group in the fourth quarter valued at approximately $867,785,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Trading Down 0.3%

Shares of NYSE:CI traded down $0.92 during trading on Friday, reaching $319.48. 852,424 shares of the stock were exchanged, compared to its average volume of 1,743,119. The firm's 50-day moving average price is $320.06 and its 200 day moving average price is $309.00. The firm has a market cap of $85.34 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 0.95 and a beta of 0.44. Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping 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 company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the firm earned $6.47 earnings per share. Cigna Group's revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is 33.44%.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent research reports. Guggenheim reaffirmed a "buy" rating and issued a $388.00 target price on shares of Cigna Group in a research note on Friday, May 23rd. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Morgan Stanley lifted their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Barclays restated an "overweight" rating and issued a $385.00 target price (up from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Finally, Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. 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's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target 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.