Mizuho Securities USA LLC Increases Stock Position in The Cigna Group (NYSE:CI)

Mizuho Securities USA LLC boosted its stake in The Cigna Group (NYSE:CI) by 45.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,363 shares of the health services provider’s stock after purchasing an additional 8,236 shares during the quarter. Mizuho Securities USA LLC’s holdings in The Cigna Group were worth $7,280,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CI. TCTC Holdings LLC purchased a new stake in The Cigna Group in the 4th quarter worth $25,000. Collier Financial purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $34,000. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter valued at about $37,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Cantor Fitzgerald increased their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Sanford C. Bernstein lowered shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $373.25.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $316.78 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a market capitalization of $86.70 billion, a P/E ratio of 25.88, a P/E/G ratio of 0.98 and a beta of 0.53. The company’s 50-day simple moving average is $300.83 and its two-hundred day simple moving average is $315.05. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the company earned $6.79 EPS. As a group, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase 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 1.91%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

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.