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

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Cigna Group (NYSE:CI) by 4.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 8,100 shares of the health services provider’s stock after purchasing an additional 375 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Cigna Group were worth $2,665,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Cigna Group by 0.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock worth $3,834,493,000 after purchasing an additional 98,715 shares during the last quarter. Northern Trust Corp lifted its position in shares of Cigna Group by 11.7% during the 4th quarter. Northern Trust Corp now owns 3,140,201 shares of the health services provider’s stock worth $867,135,000 after purchasing an additional 328,320 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Cigna Group during the 4th quarter worth $724,517,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Cigna Group by 15.1% during the 4th 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 worth $689,133,000 after purchasing an additional 326,633 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Cigna Group by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,450,463 shares of the health services provider’s stock worth $676,655,000 after purchasing an additional 18,059 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CI has been the subject of several recent analyst reports. Truist Financial lifted their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Guggenheim reiterated a “buy” rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Wall Street Zen lowered shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Morgan Stanley lifted their price target on shares of Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.72.

Cigna Group Trading Up 2.3%

NYSE CI opened at $286.96 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $76.60 billion, a PE ratio of 15.66, a P/E/G ratio of 0.82 and a beta of 0.47. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The firm’s fifty day moving average is $302.73 and its two-hundred day moving average is $311.22.

Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $6.72 earnings per share. Analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.1%. Cigna Group’s payout ratio is currently 32.97%.

About Cigna Group

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.