Heartland Bank & Trust Co Acquires Shares of 1,780 The Cigna Group (NYSE:CI)

Heartland Bank & Trust Co bought a new position in shares of The Cigna Group (NYSE:CI) during the second quarter, HoldingsChannel reports. The fund bought 1,780 shares of the health services provider’s stock, valued at approximately $588,000.

A number of other institutional investors have also modified their holdings of the business. Van ECK Associates Corp lifted its position in The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after acquiring an additional 625 shares during the period. Hancock Whitney Corp lifted its holdings in shares of The Cigna Group by 75.6% during the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after purchasing an additional 1,629 shares during the period. ORG Partners LLC purchased a new position in The Cigna Group in the 2nd quarter valued at $489,000. Public Employees Retirement Association of Colorado increased its stake in The Cigna Group by 845.7% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 44,382 shares of the health services provider’s stock valued at $13,290,000 after buying an additional 39,689 shares during the period. Finally, OLD Point Trust & Financial Services N A acquired a new position in The Cigna Group in the 4th quarter valued at $115,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler started coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Jefferies Financial Group boosted their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Barclays raised their price target on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $392.79.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Trading Down 0.4 %

Shares of CI stock opened at $346.44 on Tuesday. The stock has a market cap of $98.41 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The business has a fifty day simple moving average of $348.38 and a 200-day simple moving average of $345.28.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share 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 during the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the firm posted $6.13 EPS. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio is currently 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.