The Cigna Group (NYSE:CI) Shares Sold by Thomasville National Bank

Thomasville National Bank reduced its position in The Cigna Group (NYSE:CI) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 752 shares of the health services provider’s stock after selling 51 shares during the quarter. Thomasville National Bank’s holdings in The Cigna Group were worth $273,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Sanders Capital LLC boosted its holdings in shares of The Cigna Group by 1.3% in the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock valued at $2,314,068,000 after acquiring an additional 97,277 shares during the period. Morgan Stanley boosted its holdings in shares of The Cigna Group by 4.7% in the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after acquiring an additional 225,115 shares during the period. Norges Bank acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $1,006,348,000. Northern Trust Corp boosted its holdings in shares of The Cigna Group by 5.9% in the third quarter. Northern Trust Corp now owns 3,244,157 shares of the health services provider’s stock valued at $928,056,000 after acquiring an additional 181,385 shares during the period. Finally, Parnassus Investments LLC boosted its holdings in shares of The Cigna Group by 5.0% in 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 acquiring an additional 126,598 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Barclays began coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 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 company an “overweight” rating in a report on Thursday, May 30th. Two 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. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $374.50.

Insiders Place Their Bets

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the firm’s 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 of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total value of $181,264.86. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,812,979.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 31,209 shares of The Cigna Group stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,402 shares of company stock valued at $17,405,904. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Up 0.9 %

Shares of NYSE:CI opened at $337.88 on Friday. The stock’s 50-day moving average price is $342.60 and its two-hundred day moving average price is $329.94. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $365.71. The firm has a market cap of $95.98 billion, a price-to-earnings ratio of 27.74, a PEG ratio of 1.02 and a beta of 0.53.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period last year, the company earned $5.41 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. On average, research analysts forecast that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was 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.