Daiwa Securities Group Inc. Acquires 20,571 Shares of The Cigna Group (NYSE:CI)

Daiwa Securities Group Inc. boosted its holdings in The Cigna Group (NYSE:CI) by 60.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,617 shares of the health services provider’s stock after purchasing an additional 20,571 shares during the period. Daiwa Securities Group Inc.’s holdings in The Cigna Group were worth $18,921,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Marco Investment Management LLC lifted its position in The Cigna Group by 0.8% in the third quarter. Marco Investment Management LLC now owns 72,388 shares of the health services provider’s stock valued at $25,078,000 after purchasing an additional 578 shares during the last quarter. Summit Trail Advisors LLC boosted its position in The Cigna Group by 21.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 2,034 shares of the health services provider’s stock valued at $705,000 after buying an additional 357 shares during the period. Cahill Financial Advisors Inc. bought a new stake in The Cigna Group in the 3rd quarter worth $379,000. Larson Financial Group LLC increased its position in shares of The Cigna Group by 56.3% in the third quarter. Larson Financial Group LLC now owns 261 shares of the health services provider’s stock valued at $90,000 after acquiring an additional 94 shares during the period. Finally, Kingsview Wealth Management LLC raised its stake in shares of The Cigna Group by 2.9% during the third quarter. Kingsview Wealth Management LLC now owns 31,572 shares of the health services provider’s stock valued at $10,938,000 after acquiring an additional 886 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of NYSE CI opened at $328.45 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company has a 50 day simple moving average of $335.43 and a two-hundred day simple moving average of $338.76. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The company has a market capitalization of $91.36 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 0.99 and a beta of 0.51.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the previous year, the business earned $6.77 earnings per share. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. Analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is 52.83%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CI. Piper Sandler restated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Barclays lifted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Stephens reaffirmed an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $394.64.

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.