Nomura Asset Management Co. Ltd. Buys 9,172 Shares of Cigna Group $CI

Nomura Asset Management Co. Ltd. raised its stake in shares of Cigna Group (NYSE:CI) by 8.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,550 shares of the health services provider’s stock after purchasing an additional 9,172 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Cigna Group were worth $37,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CI. Flaharty Asset Management LLC purchased a new stake in shares of Cigna Group during the 1st quarter valued at $28,000. 1248 Management LLC bought a new position in Cigna Group in the first quarter valued at $29,000. Solstein Capital LLC purchased a new stake in Cigna Group during the second quarter valued at about $29,000. Chilton Capital Management LLC bought a new stake in Cigna Group during the second quarter worth about $30,000. Finally, Activest Wealth Management lifted its stake in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CI shares. UBS Group set a $294.00 price objective on Cigna Group in a research report on Wednesday, November 12th. Leerink Partners cut their target price on Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Cigna Group from $415.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. Cowen reissued a “buy” rating on shares of Cigna Group in a research note on Tuesday, November 4th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Cigna Group in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.05.

Insider Transactions at Cigna Group

In other Cigna Group news, CEO David Cordani acquired 4,134 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the transaction, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares in the company, valued at $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.70% of the stock is currently owned by insiders.

Cigna Group Price Performance

Shares of Cigna Group stock opened at $272.50 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a one year low of $239.51 and a one year high of $350.00. The business’s 50 day simple moving average is $288.56 and its two-hundred day simple moving average is $299.97. The stock has a market capitalization of $72.79 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $69.57 billion during the quarter, compared to analyst estimates of $66.40 billion. During the same quarter in the prior year, the firm posted $7.51 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $1.51 dividend. The ex-dividend date is Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group’s payout ratio is presently 26.64%.

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.