The Cigna Group (NYSE:CI) Shares Sold by Trust Co. of Virginia VA

Trust Co. of Virginia VA trimmed its holdings in The Cigna Group (NYSE:CI) by 2.7% during the first quarter, HoldingsChannel.com reports. The firm owned 4,265 shares of the health services provider’s stock after selling 118 shares during the period. Trust Co. of Virginia VA’s holdings in The Cigna Group were worth $1,549,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its position in shares of The Cigna Group by 106.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,892 shares of the health services provider’s stock valued at $3,402,000 after acquiring an additional 6,118 shares in the last quarter. Morningstar Investment Services LLC raised its position in shares of The Cigna Group by 1.6% during the 3rd quarter. Morningstar Investment Services LLC now owns 45,120 shares of the health services provider’s stock valued at $13,099,000 after acquiring an additional 715 shares in the last quarter. Cape Cod Five Cents Savings Bank raised its position in shares of The Cigna Group by 402.1% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 5,568 shares of the health services provider’s stock valued at $1,593,000 after acquiring an additional 4,459 shares in the last quarter. Boone Capital Management LLC raised its position in shares of The Cigna Group by 17.5% during the 3rd quarter. Boone Capital Management LLC now owns 129,917 shares of the health services provider’s stock valued at $37,165,000 after acquiring an additional 19,366 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new stake in The Cigna Group in the third quarter worth $835,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the sale, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 in the last quarter. 0.60% of the stock is owned by company insiders.

The Cigna Group Price Performance

CI stock traded down $3.58 during trading hours on Friday, hitting $330.57. 2,645,258 shares of the stock traded hands, compared to its average volume of 1,508,288. The stock has a 50-day simple moving average of $341.23 and a 200 day simple moving average of $332.90. The Cigna Group has a one year low of $253.95 and a one year high of $365.71. The company has a market cap of $93.91 billion, a P/E ratio of 27.12, a P/E/G ratio of 1.02 and a beta of 0.53. 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 released its quarterly 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 business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. During the same quarter last year, the company posted $5.41 EPS. The Cigna Group’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CI shares. JPMorgan Chase & Co. increased their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Oppenheimer increased their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, June 12th. Finally, Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.