Mizuho Securities USA LLC Has $7.21 Million Stock Position in Cigna Group (NYSE:CI)

Mizuho Securities USA LLC trimmed its stake in shares of Cigna Group (NYSE:CI) by 16.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,922 shares of the health services provider’s stock after selling 4,441 shares during the quarter. Mizuho Securities USA LLC’s holdings in Cigna Group were worth $7,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its stake in shares of Cigna Group by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock valued at $3,834,493,000 after acquiring an additional 98,715 shares during the last quarter. Sanders Capital LLC raised its stake in shares of Cigna Group by 2.0% in the fourth 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 during the last quarter. Northern Trust Corp raised its stake in shares of Cigna Group by 11.7% in the fourth quarter. Northern Trust Corp now owns 3,140,201 shares of the health services provider’s stock valued at $867,135,000 after acquiring an additional 328,320 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in shares of Cigna Group in the fourth quarter valued at approximately $724,517,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cigna Group by 15.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,495,592 shares of the health services provider’s stock valued at $689,133,000 after acquiring an additional 326,633 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CI. Cowen reiterated a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Robert W. Baird cut their target price on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Morgan Stanley lifted their target price on shares of Cigna Group from $379.00 to $390.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Finally, Guggenheim restated a “buy” rating and issued a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.72.

Cigna Group Price Performance

CI opened at $275.03 on Friday. The company has a fifty day moving average price of $304.57 and a two-hundred day moving average price of $311.60. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The firm has a market capitalization of $73.41 billion, a PE ratio of 15.01, a P/E/G ratio of 0.81 and a beta of 0.47.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the previous year, the business earned $6.72 EPS. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group’s payout ratio is 32.97%.

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.