Mufg Securities Americas Inc. Acquires Shares of 4,107 The Cigna Group (NYSE:CI)

Mufg Securities Americas Inc. acquired a new stake in shares of The Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,107 shares of the health services provider's stock, valued at approximately $1,134,000.

Other hedge funds also recently added to or reduced their stakes in the company. NorthRock Partners LLC lifted its stake in The Cigna Group by 177.6% during the fourth quarter. NorthRock Partners LLC now owns 3,695 shares of the health services provider's stock worth $1,020,000 after purchasing an additional 2,364 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of The Cigna Group by 20.0% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 12,169 shares of the health services provider's stock worth $3,360,000 after buying an additional 2,029 shares during the last quarter. Meridiem Capital Partners LP bought a new position in shares of The Cigna Group in the 4th quarter worth about $2,366,000. Mubadala Investment Co PJSC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $3,485,000. Finally, NDVR Inc. grew its stake in The Cigna Group by 5.4% during the 4th quarter. NDVR Inc. now owns 915 shares of the health services provider's stock worth $253,000 after buying an additional 47 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock worth $13,603,991 over the last quarter. 0.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Oppenheimer reduced their price objective on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Cowen reaffirmed a "buy" rating on shares of The Cigna Group in a research note on Monday, May 5th. Mizuho increased their price target on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $379.33.

The Cigna Group Trading Up 0.3%

The Cigna Group stock traded up $1.02 during mid-day trading on Tuesday, hitting $322.98. 358,555 shares of the company's stock were exchanged, compared to its average volume of 1,706,626. The company's 50 day simple moving average is $325.22 and its 200-day simple moving average is $309.91. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $86.28 billion, a P/E ratio of 26.46, a PEG ratio of 0.98 and a beta of 0.47. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The 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 for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business had revenue of $65.45 billion for the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter in the previous year, the business posted $6.47 EPS. The Cigna Group's revenue for the quarter was up 14.4% on a year-over-year basis. On average, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's payout ratio is currently 33.44%.

The Cigna Group Company 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.