Whittier Trust Co. Cuts Stock Holdings in The Cigna Group (NYSE:CI)

Whittier Trust Co. cut its stake in The Cigna Group (NYSE:CIFree Report) by 1.8% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,938 shares of the health services provider’s stock after selling 128 shares during the period. Whittier Trust Co.’s holdings in The Cigna Group were worth $2,520,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CI. Sanders Capital LLC boosted its stake in shares of The Cigna Group by 1.3% in the 4th quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after purchasing an additional 97,277 shares in the last quarter. Norges Bank purchased a new stake in The Cigna Group during the fourth quarter valued at about $1,006,348,000. Parnassus Investments LLC grew its stake in shares of The Cigna Group by 5.0% during the fourth quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after buying an additional 126,598 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of The Cigna Group by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock worth $592,451,000 after buying an additional 53,414 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of The Cigna Group by 7.7% in the 4th quarter. California Public Employees Retirement System now owns 967,477 shares of the health services provider’s stock valued at $289,711,000 after acquiring an additional 69,084 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.4 %

Shares of NYSE CI opened at $328.37 on Wednesday. The firm’s 50 day moving average price is $337.09 and its 200-day moving average price is $334.86. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $93.28 billion, a PE ratio of 26.96, a P/E/G ratio of 0.99 and a beta of 0.52.

The Cigna Group (NYSE:CIGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $5.41 earnings per share. On average, equities research analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.71%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $338.08, for a total transaction of $338,080.00. Following the sale, the director now owns 5,471 shares in the company, valued at approximately $1,849,635.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other The Cigna Group news, Director Elder Granger sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $338.08, for a total transaction of $338,080.00. Following the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,849,635.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,988 shares of company stock worth $7,975,726. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Robert W. Baird started coverage on The Cigna Group in a research report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. raised their price objective on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Piper Sandler assumed coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $376.20.

Get Our Latest Research Report on CI

About The Cigna Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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