Huntington National Bank Grows Position in The Cigna Group (NYSE:CI)

Huntington National Bank grew its holdings in shares of The Cigna Group (NYSE:CI) by 2.5% in the third quarter, Holdings Channel.com reports. The firm owned 7,558 shares of the health services provider’s stock after buying an additional 181 shares during the period. Huntington National Bank’s holdings in The Cigna Group were worth $2,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its position in shares of The Cigna Group by 8.5% in the first quarter. Avantax Advisory Services Inc. now owns 3,612 shares of the health services provider’s stock valued at $1,312,000 after purchasing an additional 284 shares in the last quarter. Lord Abbett & CO. LLC increased its position in shares of The Cigna Group by 43.9% during the first quarter. Lord Abbett & CO. LLC now owns 3,969 shares of the health services provider’s stock valued at $1,441,000 after buying an additional 1,211 shares during the period. Banco Santander S.A. lifted its holdings in shares of The Cigna Group by 379.4% in the first quarter. Banco Santander S.A. now owns 7,153 shares of the health services provider’s stock worth $2,598,000 after buying an additional 5,661 shares in the last quarter. M&G Plc bought a new position in shares of The Cigna Group in the first quarter valued at approximately $8,648,000. Finally, Mizuho Markets Americas LLC purchased a new position in The Cigna Group during the first quarter valued at approximately $4,389,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada reduced their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Barclays raised their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $394.64.

Insider Buying and Selling at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 13.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $321.53 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a fifty day moving average of $339.52 and a 200-day moving average of $339.91. The stock has a market capitalization of $89.43 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company’s revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the business posted $6.77 earnings per share. Equities research analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

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.