CoreFirst Bank & Trust Sells 140 Shares of The Cigna Group (NYSE:CI)

CoreFirst Bank & Trust lowered its stake in shares of The Cigna Group (NYSE:CI) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,190 shares of the health services provider’s stock after selling 140 shares during the period. CoreFirst Bank & Trust’s holdings in The Cigna Group were worth $656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CI. Relyea Zuckerberg Hanson LLC raised its stake in The Cigna Group by 3.2% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after buying an additional 35 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in The Cigna Group by 1.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,132 shares of the health services provider’s stock valued at $638,000 after acquiring an additional 36 shares during the period. Legacy Financial Advisors Inc. lifted its holdings in The Cigna Group by 3.1% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,250 shares of the health services provider’s stock valued at $374,000 after purchasing an additional 37 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in The Cigna Group by 0.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,520 shares of the health services provider’s stock worth $3,150,000 after purchasing an additional 38 shares during the period. Finally, Breakwater Capital Group increased its holdings in shares of The Cigna Group by 3.5% in the fourth quarter. Breakwater Capital Group now owns 1,144 shares of the health services provider’s stock valued at $349,000 after purchasing an additional 39 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays initiated coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Oppenheimer boosted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $373.87.

The Cigna Group Trading Up 0.2 %

NYSE CI traded up $0.61 during trading hours on Monday, hitting $333.90. 1,140,637 shares of the company’s stock were exchanged, compared to its average volume of 1,605,891. The firm has a market cap of $94.85 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 1.02 and a beta of 0.54. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. The stock has a 50-day simple moving average of $343.82 and a 200 day simple moving average of $329.38. 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 Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business’s revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.41 earnings per share. On average, equities analysts forecast that The Cigna Group will post 28.47 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at approximately $904,902.45. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,193 shares of company stock valued at $19,475,326. Corporate insiders own 0.70% of the company’s stock.

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.