Zions Bancorporation N.A. Sells 190 Shares of The Cigna Group (NYSE:CI)

Zions Bancorporation N.A. lowered its position in The Cigna Group (NYSE:CI) by 18.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 862 shares of the health services provider’s stock after selling 190 shares during the quarter. Zions Bancorporation N.A.’s holdings in The Cigna Group were worth $285,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in The Cigna Group by 8.1% in the 1st quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in The Cigna Group by 6.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after buying an additional 867,180 shares during the period. Sanders Capital LLC lifted its position in shares of The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after buying an additional 97,277 shares during the last quarter. Norges Bank bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $1,006,348,000. Finally, Parnassus Investments LLC increased its holdings in shares of The Cigna Group by 5.0% during the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock worth $803,143,000 after acquiring an additional 126,598 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other news, Director Elder Granger sold 547 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 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 directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elder Granger sold 547 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total value of $181,264.86. Following the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,033 shares of company stock valued at $2,757,740. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on CI shares. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. Barclays boosted their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $387.00.

The Cigna Group Stock Up 0.7 %

Shares of NYSE CI opened at $364.72 on Friday. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.64. The stock’s fifty day moving average is $344.18 and its 200 day moving average is $344.22. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $101.96 billion, a P/E ratio of 29.94, a PEG ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the firm earned $6.13 EPS. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. Sell-side analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s payout ratio is presently 45.98%.

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.