First American Trust FSB Makes New $4.47 Million Investment in The Cigna Group (NYSE:CI)

First American Trust FSB acquired a new stake in The Cigna Group (NYSE:CI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 16,192 shares of the health services provider’s stock, valued at approximately $4,471,000.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Piper Sandler reissued an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Oppenheimer cut their target price 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. 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. Finally, UBS Group reduced their target price 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Stock Up 1.3 %

Shares of NYSE:CI opened at $320.79 on Tuesday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock has a market capitalization of $87.79 billion, a P/E ratio of 26.21, a PEG ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The stock has a 50-day simple moving average of $301.62 and a 200-day simple moving average of $314.45.

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 the consensus estimate 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 quarter in the prior year, the business posted $6.79 EPS. Equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. 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 1.88%. The Cigna Group’s payout ratio is 49.35%.

Insider Buying and Selling

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.60% of the company’s stock.

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.