Sumitomo Mitsui Trust Holdings Inc. Has $294.79 Million Stake in The Cigna Group (NYSE:CI)

Sumitomo Mitsui Trust Holdings Inc. raised its position in The Cigna Group (NYSE:CI) by 0.2% during the 1st quarter, HoldingsChannel reports. The fund owned 811,673 shares of the health services provider’s stock after buying an additional 1,544 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in The Cigna Group were worth $294,792,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Sanders Capital LLC boosted its holdings in shares of The Cigna Group by 1.3% in the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after buying an additional 97,277 shares during the last quarter. Morgan Stanley lifted its stake in The Cigna Group by 4.7% in the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after purchasing an additional 225,115 shares during the last quarter. Norges Bank acquired a new position in The Cigna Group during the fourth quarter worth approximately $1,006,348,000. Parnassus Investments LLC raised its stake in The Cigna Group by 5.0% in the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after buying an additional 126,598 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of The Cigna Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock valued at $592,451,000 after buying an additional 53,414 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Elder Granger sold 547 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Elder Granger sold 547 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock worth $7,975,726 in the last 90 days. Insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $325.07 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $92.34 billion, a PE ratio of 26.69, a PEG ratio of 1.01 and a beta of 0.52. The firm has a 50 day moving average of $340.15 and a 200-day moving average of $333.85. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter last year, the business posted $5.41 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.72%. The Cigna Group’s payout ratio is presently 45.98%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CI. JPMorgan Chase & Co. increased their price target on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird started coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 price target on the stock. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Barclays initiated coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $376.20.

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.