The Cigna Group (NYSE:CI) Shares Sold by Intrust Bank NA

Intrust Bank NA lessened its holdings in shares of The Cigna Group (NYSE:CI) by 2.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 4,667 shares of the health services provider’s stock after selling 116 shares during the period. Intrust Bank NA’s holdings in The Cigna Group were worth $1,289,000 as of its most recent SEC filing.

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

The Cigna Group Trading Up 0.1 %

Shares of NYSE:CI opened at $324.97 on Friday. The company has a 50 day moving average of $304.67 and a 200-day moving average of $313.78. 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 firm has a market cap of $88.94 billion, a P/E ratio of 26.55, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 last year, the company earned $6.79 earnings per share. As a group, analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s payout ratio is presently 49.35%.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 26,527 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 $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CI. Barclays lowered their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Morgan Stanley lowered their price objective on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $373.25.

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.