The Cigna Group (NYSE:CI) Shares Sold by Private Trust Co. NA

Private Trust Co. NA lowered its position in The Cigna Group (NYSE:CI) by 25.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,664 shares of the health services provider’s stock after selling 899 shares during the period. Private Trust Co. NA’s holdings in The Cigna Group were worth $798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CI. FMR LLC grew its holdings in The Cigna Group by 13.8% during the 3rd quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after buying an additional 1,939,554 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in The Cigna Group by 154,255.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock valued at $3,961,117,000 after buying an additional 11,947,096 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of The Cigna Group by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after purchasing an additional 345,605 shares during the period. Morgan Stanley lifted its stake in shares of The Cigna Group by 4.7% during the 3rd quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of The Cigna Group by 5.9% during the 3rd quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock worth $928,056,000 after purchasing an additional 181,385 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock valued at $39,296,330 over the last quarter. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CI. Royal Bank of Canada raised The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Oppenheimer reissued an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Barclays began coverage on The Cigna Group in a research note on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target on the stock. Jefferies Financial Group raised The Cigna Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $335.00 to $341.00 in a research note on Monday, December 11th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $372.00 price target on shares of The Cigna Group in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $361.29.

The Cigna Group Stock Up 0.6 %

Shares of NYSE CI opened at $362.45 on Friday. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a market cap of $105.96 billion, a P/E ratio of 20.84, a P/E/G ratio of 1.11 and a beta of 0.56. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $341.57 and a 200 day moving average price of $311.09.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm had revenue of $51.15 billion during the quarter, compared to the consensus estimate of $48.91 billion. During the same period in the prior year, the firm earned $4.96 EPS. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts anticipate that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a yield of 1.55%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

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.