Sumitomo Mitsui DS Asset Management Company Ltd Has $9.70 Million Stake in The Cigna Group (NYSE:CI)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of The Cigna Group (NYSE:CI) by 4.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 35,118 shares of the health services provider’s stock after buying an additional 1,502 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in The Cigna Group were worth $9,697,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Sterling Financial Group Inc. acquired a new position in shares of The Cigna Group in the 4th quarter valued at $4,367,000. Marks Group Wealth Management Inc increased its stake in The Cigna Group by 3,669.7% in the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares during the period. Principal Financial Group Inc. raised its position in The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Trinity Street Asset Management LLP lifted its stake in The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after purchasing an additional 5,397 shares during the period. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

The Cigna Group stock opened at $286.67 on Friday. The stock has a market cap of $79.74 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 0.97 and a beta of 0.54. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 business’s 50-day simple moving average is $290.87 and its 200 day simple moving average is $323.07.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm posted $6.79 EPS. As a group, research analysts anticipate that The Cigna Group will post 29.66 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.11%. The Cigna Group’s payout ratio is 45.75%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CI. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Raymond James reissued a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Barclays lowered their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a report on Thursday. Finally, Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.69.

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.