Tokio Marine Asset Management Co. Ltd. Grows Position in The Cigna Group (NYSE:CI)

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of The Cigna Group (NYSE:CI) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,726 shares of the health services provider’s stock after buying an additional 534 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in The Cigna Group were worth $2,014,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CI. Avestar Capital LLC raised its stake in shares of The Cigna Group by 0.8% in the third quarter. Avestar Capital LLC now owns 4,585 shares of the health services provider’s stock worth $1,312,000 after purchasing an additional 35 shares during the last quarter. Eads & Heald Wealth Management increased its position in The Cigna Group by 1.7% during the third quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock valued at $607,000 after acquiring an additional 35 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its position in The Cigna Group by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after acquiring an additional 35 shares during the last quarter. Strategic Blueprint LLC increased its position in The Cigna Group by 4.8% during the third quarter. Strategic Blueprint LLC now owns 784 shares of the health services provider’s stock valued at $224,000 after acquiring an additional 36 shares during the last quarter. Finally, E&G Advisors LP increased its position in The Cigna Group by 1.8% during the third quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock valued at $611,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Barclays began coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target for the company. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $362.14.

The Cigna Group Stock Performance

CI stock traded up $1.74 during midday trading on Thursday, reaching $354.02. The stock had a trading volume of 405,513 shares, compared to its average volume of 1,573,149. The stock has a market cap of $103.50 billion, a PE ratio of 20.26, a P/E/G ratio of 1.08 and a beta of 0.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a fifty day simple moving average of $349.31 and a two-hundred day simple moving average of $317.09. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The business had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $4.96 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The Cigna Group’s dividend payout ratio is presently 32.20%.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the transaction, the insider now directly owns 45,564 shares in the company, valued at approximately $15,275,786.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 in the last 90 days. Corporate insiders own 0.60% of the company’s stock.

The 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.