The Cigna Group (NYSE:CI) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA raised its stake in The Cigna Group (NYSE:CI) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,421 shares of the health services provider’s stock after purchasing an additional 73 shares during the quarter. Private Trust Co. NA’s holdings in The Cigna Group were worth $839,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P raised its holdings in shares of The Cigna Group by 21.2% during the 3rd quarter. Loomis Sayles & Co. L P now owns 246 shares of the health services provider’s stock valued at $85,000 after buying an additional 43 shares during the period. Dynamic Technology Lab Private Ltd grew its position in The Cigna Group by 5.6% in the third quarter. Dynamic Technology Lab Private Ltd now owns 5,338 shares of the health services provider’s stock valued at $1,849,000 after acquiring an additional 285 shares in the last quarter. Douglass Winthrop Advisors LLC lifted its position in shares of The Cigna Group by 5.3% during the third quarter. Douglass Winthrop Advisors LLC now owns 9,860 shares of the health services provider’s stock worth $3,416,000 after purchasing an additional 495 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of The Cigna Group by 60.4% in the third quarter. Daiwa Securities Group Inc. now owns 54,617 shares of the health services provider’s stock valued at $18,921,000 after purchasing an additional 20,571 shares during the period. Finally, Marco Investment Management LLC grew its holdings in The Cigna Group by 0.8% during the 3rd quarter. Marco Investment Management LLC now owns 72,388 shares of the health services provider’s stock valued at $25,078,000 after purchasing an additional 578 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Barclays upped their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $394.64.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $335.07 on Wednesday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a market capitalization of $93.20 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 0.99 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $334.32 and its 200 day simple moving average is $338.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the prior year, the firm earned $6.77 earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.67%. The Cigna Group’s dividend payout ratio is 52.83%.

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.