Mizuho Securities USA LLC Acquires 8,236 Shares of The Cigna Group (NYSE:CI)

Mizuho Securities USA LLC raised its holdings in shares of The Cigna Group (NYSE:CI) by 45.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,363 shares of the health services provider’s stock after purchasing an additional 8,236 shares during the period. Mizuho Securities USA LLC’s holdings in The Cigna Group were worth $7,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CI. TCTC Holdings LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $25,000. Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $34,000. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the third quarter valued at approximately $37,000. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on CI. Cantor Fitzgerald raised their price target on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday. UBS Group reduced their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Stephens reduced their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Trading Down 1.4 %

Shares of CI stock opened at $316.78 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The firm has a fifty day moving average price of $300.83 and a 200-day moving average price of $315.05. 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 cap of $86.70 billion, a price-to-earnings ratio of 25.88, a PEG ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last issued 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 posted $6.79 EPS. As a group, equities analysts predict that The Cigna Group will post 29.77 earnings per share 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 given a dividend of $1.51 per share. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The Cigna Group’s payout ratio is presently 49.35%.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.60% of the company’s stock.

The Cigna Group 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.