Peapack Gladstone Financial Corp Has $6.26 Million Stake in The Cigna Group (NYSE:CI)

Peapack Gladstone Financial Corp trimmed its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 10.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,672 shares of the health services provider's stock after selling 2,635 shares during the period. Peapack Gladstone Financial Corp's holdings in The Cigna Group were worth $6,261,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. TCTC Holdings LLC acquired a new stake in The Cigna Group in the 4th quarter valued at about $25,000. Collier Financial bought a new stake in The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group during the fourth quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the fourth quarter valued at $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group during the 4th quarter valued at $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Performance

CI stock traded up $2.25 during trading on Friday, reaching $329.52. 1,727,459 shares of the stock were exchanged, compared to its average volume of 1,689,887. The stock has a 50 day simple moving average of $312.04 and a 200-day simple moving average of $311.31. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $90.18 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

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The Cigna Group (NYSE:CI - Get Free Report) last issued its 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 net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the business earned $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend 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 is 49.35%.

Insiders Place Their Bets

In other news, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on 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 transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last quarter. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent research reports. StockNews.com upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Guggenheim initiated coverage on The Cigna Group in a report on Wednesday. They set a "buy" rating and a $384.00 price objective on the stock. Cantor Fitzgerald raised their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Truist Financial boosted their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a report on Friday. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective on the stock. in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, The Cigna Group currently has an average rating of "Buy" and an average price target of $375.00.

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.