The Cigna Group (NYSE:CI) Shares Bought by City Holding Co.

City Holding Co. grew its stake in shares of The Cigna Group (NYSE:CI) by 28.7% during the first quarter, HoldingsChannel reports. The firm owned 2,889 shares of the health services provider’s stock after buying an additional 645 shares during the period. City Holding Co.’s holdings in The Cigna Group were worth $1,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth about $29,000. VisionPoint Advisory Group LLC lifted its stake in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth about $37,000. Finally, Pacifica Partners Inc. lifted its stake in shares of The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI traded up $3.31 during midday trading on Monday, hitting $343.29. 125,520 shares of the company’s stock were exchanged, compared to its average volume of 1,611,532. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s 50 day moving average price is $342.40 and its 200-day moving average price is $331.50. The firm has a market cap of $97.52 billion, a P/E ratio of 27.91, a PEG ratio of 1.03 and a beta of 0.53. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71.

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

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.63%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Insiders Place Their Bets

In other news, Director Elder Granger sold 547 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at approximately $904,902.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Elder Granger sold 547 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold 18,193 shares of company stock worth $6,321,404 over the last ninety days. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Morgan Stanley reissued an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Barclays assumed coverage on The Cigna Group in a report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, June 12th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. Finally, Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $374.50.

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.