Riverview Trust Co Purchases 60 Shares of The Cigna Group (NYSE:CI)

Riverview Trust Co increased its position in shares of The Cigna Group (NYSE:CI) by 22.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 324 shares of the health services provider’s stock after buying an additional 60 shares during the period. Riverview Trust Co’s holdings in The Cigna Group were worth $112,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP increased its holdings in The Cigna Group by 240.8% in the fourth quarter. Wellington Management Group LLP now owns 16,674 shares of the health services provider’s stock worth $4,993,000 after purchasing an additional 11,782 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of The Cigna Group by 16.0% during the 4th quarter. Fisher Asset Management LLC now owns 1,550 shares of the health services provider’s stock valued at $464,000 after acquiring an additional 214 shares during the period. Park Avenue Securities LLC boosted its stake in The Cigna Group by 6.6% during the first quarter. Park Avenue Securities LLC now owns 11,569 shares of the health services provider’s stock worth $4,202,000 after acquiring an additional 712 shares in the last quarter. MJP Associates Inc. ADV acquired a new stake in The Cigna Group in the first quarter worth $335,000. Finally, &PARTNERS bought a new stake in The Cigna Group in the first quarter valued at $328,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 4.8 %

CI stock opened at $336.00 on Friday. The stock has a 50-day simple moving average of $350.66 and a two-hundred day simple moving average of $344.42. The firm has a market capitalization of $95.45 billion, a PE ratio of 27.59, a PEG ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period in the previous year, the firm posted $6.13 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Jefferies Financial Group boosted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research report on Tuesday, October 1st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $392.79.

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.