Fiduciary Trust Co Purchases 96 Shares of The Cigna Group (NYSE:CI)

Fiduciary Trust Co boosted its holdings in shares of The Cigna Group (NYSE:CI) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,042 shares of the health services provider’s stock after acquiring an additional 96 shares during the quarter. Fiduciary Trust Co’s holdings in The Cigna Group were worth $5,534,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Fullcircle Wealth LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at about $200,000. Deutsche Bank AG boosted its position in The Cigna Group by 14.5% during the fourth quarter. Deutsche Bank AG now owns 1,490,904 shares of the health services provider’s stock worth $411,698,000 after purchasing an additional 188,422 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of The Cigna Group by 6.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,185 shares of the health services provider’s stock valued at $1,708,000 after purchasing an additional 399 shares during the period. EHP Funds Inc. acquired a new stake in shares of The Cigna Group in the fourth quarter worth $304,000. Finally, Capitolis Liquid Global Markets LLC bought a new stake in shares of The Cigna Group during the 4th quarter worth $12,426,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on CI. UBS Group dropped their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Mizuho boosted their price objective on The Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. Piper Sandler upped their price target on The Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, Guggenheim restated a “buy” rating and issued a $388.00 price objective (up previously from $384.00) on shares of The Cigna Group in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $378.22.

Insider Activity at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last three months. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $333.79 on Friday. The stock’s fifty day simple moving average is $325.84 and its 200 day simple moving average is $310.12. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The firm has a market cap of $89.17 billion, a price-to-earnings ratio of 27.27, a P/E/G ratio of 0.98 and a beta of 0.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. During the same quarter in the prior year, the firm earned $6.47 EPS. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a yield of 1.81%. The Cigna Group’s dividend payout ratio (DPR) is presently 33.44%.

The Cigna Group 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.