Private Trust Co. NA Sells 289 Shares of The Cigna Group (NYSE:CI)

Private Trust Co. NA decreased its holdings in shares of The Cigna Group (NYSE:CI) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,132 shares of the health services provider’s stock after selling 289 shares during the quarter. Private Trust Co. NA’s holdings in The Cigna Group were worth $589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. Swedbank AB raised its holdings in The Cigna Group by 55.1% in the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock valued at $244,220,000 after acquiring an additional 314,123 shares in the last quarter. FMR LLC increased its position 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 valued at $4,929,978,000 after purchasing an additional 279,880 shares during the period. Proficio Capital Partners LLC raised its stake in shares of The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock valued at $65,888,000 after purchasing an additional 237,909 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in The Cigna Group by 68.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider’s stock worth $137,483,000 after purchasing an additional 202,161 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in The Cigna Group during the third quarter worth $69,972,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Price Performance

CI opened at $308.66 on Friday. 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 stock has a market capitalization of $85.85 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 0.98 and a beta of 0.54. The company’s 50 day simple moving average is $289.54 and its 200-day simple moving average is $318.63. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the business earned $6.79 earnings per share. Sell-side 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 disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is currently 49.35%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CI shares. Oppenheimer dropped their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Wells Fargo & Company decreased 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. Raymond James restated a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Cantor Fitzgerald lowered their price target on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $372.31.

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.