Central Pacific Bank Trust Division Sells 4,396 Shares of The Cigna Group (NYSE:CI)

Central Pacific Bank Trust Division trimmed its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 56.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,405 shares of the health services provider's stock after selling 4,396 shares during the period. Central Pacific Bank Trust Division's holdings in The Cigna Group were worth $940,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the third quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Intact Investment Management Inc. purchased a new position in shares of The Cigna Group during the 3rd quarter valued at about $69,000. Finally, Stone House Investment Management LLC increased its stake in shares of The Cigna Group by 25.0% in the 3rd quarter. Stone House Investment Management LLC now owns 200 shares of the health services provider's stock valued at $69,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CI. Barclays raised their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Piper Sandler reiterated an "overweight" rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of The Cigna Group from $398.00 to $394.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com lowered shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, The Cigna Group presently has an average rating of "Buy" and an average price target of $394.64.

The Cigna Group Stock Up 2.3 %

Shares of The Cigna Group stock traded up $6.21 on Friday, reaching $280.70. The company's stock had a trading volume of 1,333,117 shares, compared to its average volume of 1,176,708. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a market capitalization of $78.08 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 0.88 and a beta of 0.54. The firm's fifty day simple moving average is $308.20 and its two-hundred day simple moving average is $330.57.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted $6.77 earnings per share. Equities analysts anticipate that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Wednesday, December 4th. The Cigna Group's dividend payout ratio is currently 52.83%.

The Cigna Group 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.