Heritage Trust Co acquired a new stake in The Cigna Group (NYSE:CI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,435 shares of the health services provider's stock, valued at approximately $949,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Garden State Investment Advisory Services LLC acquired a new stake in shares of The Cigna Group during the third quarter valued at about $444,000. Sunbelt Securities Inc. boosted its position in The Cigna Group by 24.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 216 shares of the health services provider's stock worth $75,000 after buying an additional 43 shares during the period. TD Private Client Wealth LLC grew its holdings in The Cigna Group by 4.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 6,181 shares of the health services provider's stock worth $2,141,000 after acquiring an additional 235 shares during the last quarter. Advisory Resource Group increased its position in The Cigna Group by 2.0% in the 3rd quarter. Advisory Resource Group now owns 13,163 shares of the health services provider's stock valued at $4,560,000 after acquiring an additional 263 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of The Cigna Group by 39.6% during the third quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider's stock valued at $5,949,000 after acquiring an additional 4,870 shares during the last quarter. Institutional investors own 86.99% of the company's stock.
Insider Buying and Selling
In related news, CEO David Cordani sold 26,527 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company's stock.
Analyst Ratings Changes
Several research analysts recently issued reports on the company. Raymond James reaffirmed a "strong-buy" rating and set a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Truist Financial lifted their price objective on The Cigna Group from $375.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. UBS Group decreased their target price on shares of The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Finally, Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $373.56.
Get Our Latest Research Report on The Cigna Group
The Cigna Group Stock Performance
CI stock traded up $0.87 during midday trading on Wednesday, hitting $329.50. The company's stock had a trading volume of 1,311,497 shares, compared to its average volume of 1,832,634. The stock's 50-day moving average price is $313.58 and its 200 day moving average price is $311.06. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The stock has a market cap of $90.18 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 0.98 and a beta of 0.51. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.
The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts' consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. On average, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.
The Cigna Group Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.
The Cigna Group Company Profile
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Free Report)
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.
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