Intrust Bank NA Cuts Stock Holdings in The Cigna Group (NYSE:CI)

Intrust Bank NA decreased its position in The Cigna Group (NYSE:CI) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,824 shares of the health services provider’s stock after selling 149 shares during the period. Intrust Bank NA’s holdings in The Cigna Group were worth $1,445,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CI. Eads & Heald Wealth Management grew its stake in The Cigna Group by 1.7% in the 3rd quarter. Eads & Heald Wealth Management now owns 2,123 shares of the health services provider’s stock valued at $607,000 after purchasing an additional 35 shares during the period. Relyea Zuckerberg Hanson LLC grew its position in The Cigna Group by 3.2% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,113 shares of the health services provider’s stock valued at $333,000 after buying an additional 35 shares during the period. E&G Advisors LP grew its position in The Cigna Group by 1.8% during the third quarter. E&G Advisors LP now owns 2,137 shares of the health services provider’s stock valued at $611,000 after buying an additional 37 shares during the period. Sebold Capital Management Inc. increased its holdings in The Cigna Group by 3.2% during the third quarter. Sebold Capital Management Inc. now owns 1,273 shares of the health services provider’s stock worth $364,000 after buying an additional 39 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in The Cigna Group by 1.4% in the third quarter. Sequoia Financial Advisors LLC now owns 2,822 shares of the health services provider’s stock valued at $807,000 after acquiring an additional 39 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

The Cigna Group stock traded down $0.45 during midday trading on Tuesday, reaching $355.99. 54,556 shares of the stock were exchanged, compared to its average volume of 1,546,984. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market cap of $104.08 billion, a PE ratio of 20.50, a PEG ratio of 1.09 and a beta of 0.56. The company’s fifty day moving average is $350.19 and its 200-day moving average is $318.58.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. During the same quarter last year, the company earned $4.96 earnings per share. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. On average, sell-side analysts forecast that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Insider Buying and Selling at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO David Cordani sold 38,065 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 over the last three months. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CI. Oppenheimer restated an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Mizuho increased their price target on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Morgan Stanley restated an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Wednesday, April 10th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average target price of $362.14.

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.