Fulton Bank N.A. Trims Stock Position in The Cigna Group (NYSE:CI)

Fulton Bank N.A. lessened its holdings in shares of The Cigna Group (NYSE:CI) by 3.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,526 shares of the health services provider’s stock after selling 83 shares during the period. Fulton Bank N.A.’s holdings in The Cigna Group were worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CI. Bogart Wealth LLC raised its holdings in shares of The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of The Cigna Group during the third quarter worth $26,000. Fairfield Bush & CO. purchased a new position in shares of The Cigna Group during the second quarter worth $28,000. Fortitude Family Office LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth $29,000. Finally, Optimum Investment Advisors increased its holdings in The Cigna Group by 110.0% in the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,144 shares of company stock valued at $39,296,330. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CI shares. Jefferies Financial Group raised shares of The Cigna Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $335.00 to $341.00 in a report on Monday, December 11th. Barclays began coverage on shares of The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $360.00 target price on shares of The Cigna Group in a research note on Wednesday, January 17th. Cantor Fitzgerald reissued an “overweight” rating and set a $372.00 target price on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Two analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $361.29.

The Cigna Group Stock Performance

NYSE:CI opened at $362.45 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $105.97 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 1.11 and a beta of 0.56. The company’s 50-day moving average is $341.57 and its two-hundred day moving average is $311.28. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The Cigna Group’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.96 EPS. Analysts forecast that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.55%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date was Tuesday, March 5th. The Cigna Group’s payout ratio is 32.20%.

About The Cigna Group

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.