Moody National Bank Trust Division Sells 40 Shares of The Cigna Group (NYSE:CI)

Moody National Bank Trust Division lessened its stake in shares of The Cigna Group (NYSE:CI) by 1.0% during the 1st quarter, Holdings Channel reports. The fund owned 4,053 shares of the health services provider’s stock after selling 40 shares during the period. Moody National Bank Trust Division’s holdings in The Cigna Group were worth $1,472,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Kestra Advisory Services LLC boosted its position in The Cigna Group by 3.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 16,578 shares of the health services provider’s stock valued at $4,742,000 after acquiring an additional 544 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of The Cigna Group in the 3rd quarter worth $6,132,000. Envestnet Asset Management Inc. boosted its position in shares of The Cigna Group by 24.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 309,511 shares of the health services provider’s stock worth $88,542,000 after purchasing an additional 61,801 shares in the last quarter. Mirabella Financial Services LLP acquired a new stake in shares of The Cigna Group in the 3rd quarter worth $249,000. Finally, Glenview Trust co boosted its position in shares of The Cigna Group by 7.0% in the 3rd quarter. Glenview Trust co now owns 16,460 shares of the health services provider’s stock worth $4,709,000 after purchasing an additional 1,074 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the transaction, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,193 shares of company stock worth $19,475,326. Insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Oppenheimer raised their price objective on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Morgan Stanley reissued an “overweight” rating and issued a $392.00 price objective (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Barclays started coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Robert W. Baird started coverage on The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $373.87.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $334.80 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The business has a 50-day moving average price of $342.90 and a 200 day moving average price of $329.88. The firm has a market cap of $95.11 billion, a PE ratio of 27.49, a P/E/G ratio of 1.02 and a beta of 0.53.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the previous year, the firm posted $5.41 EPS. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. Sell-side analysts predict that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is 45.98%.

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.