Trust Co. of Vermont Reduces Stake in The Cigna Group (NYSE:CI)

Trust Co. of Vermont reduced its holdings in The Cigna Group (NYSE:CI) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,458 shares of the health services provider’s stock after selling 1,032 shares during the quarter. Trust Co. of Vermont’s holdings in The Cigna Group were worth $5,097,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group during the fourth quarter valued at about $34,000. Ulland Investment Advisors LLC grew its holdings in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares during the period. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group in the 3rd quarter valued at approximately $45,000. Finally, Intact Investment Management Inc. bought a new stake in shares of The Cigna Group during the third quarter valued at approximately $69,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI traded up $3.19 during trading hours on Friday, hitting $284.16. The stock had a trading volume of 1,892,393 shares, compared to its average volume of 1,847,029. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The stock has a fifty day moving average price of $302.08 and a 200 day moving average price of $327.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $79.04 billion, a PE ratio of 26.81, a PEG ratio of 0.75 and a beta of 0.54.

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

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada lowered their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Truist Financial cut their price objective on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $394.00 target price (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Finally, Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $395.93.

About The Cigna Group

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.