Canandaigua National Bank & Trust Co. Grows Stock Position in The Cigna Group (NYSE:CI)

Canandaigua National Bank & Trust Co. boosted its position in The Cigna Group (NYSE:CI) by 24.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,412 shares of the health services provider’s stock after buying an additional 1,244 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in The Cigna Group were worth $1,771,000 as of its most recent SEC filing.

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

The Cigna Group Price Performance

The Cigna Group stock opened at $279.40 on Tuesday. The stock has a market capitalization of $77.72 billion, a P/E ratio of 26.36, a P/E/G ratio of 0.88 and a beta of 0.54. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s 50-day moving average is $307.49 and its two-hundred day moving average is $330.10.

The Cigna Group (NYSE:CI) last announced its earnings results 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 for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The Cigna Group’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.77 earnings per share. Equities analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Jefferies Financial Group lifted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Finally, StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $395.93.

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.