Glenview Trust co Acquires 274 Shares of The Cigna Group (NYSE:CI)

Glenview Trust co raised its holdings in The Cigna Group (NYSE:CI) by 1.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 16,807 shares of the health services provider’s stock after purchasing an additional 274 shares during the period. Glenview Trust co’s holdings in The Cigna Group were worth $4,641,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $313,911,000. Amundi lifted its stake in The Cigna Group by 19.9% in the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after purchasing an additional 374,865 shares during the last quarter. Swedbank AB boosted its position in The Cigna Group by 55.1% in the fourth quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after buying an additional 314,123 shares in the last quarter. FMR LLC grew its stake in shares of The Cigna Group by 2.0% during the third quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its holdings in shares of The Cigna Group by 34,280.8% during the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after buying an additional 237,909 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several recent research reports. Wells Fargo & Company cut their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Barclays reduced their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley dropped their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Oppenheimer reduced their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Finally, Cantor Fitzgerald dropped their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Stock Up 0.4 %

Shares of The Cigna Group stock opened at $313.35 on Monday. The stock’s 50-day moving average is $296.79 and its 200 day moving average is $316.23. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market cap of $85.76 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm earned $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is currently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,375 shares of company stock valued at $12,866,600 in the last 90 days. 0.60% of the stock is currently owned by corporate insiders.

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.