Stock Yards Bank & Trust Co. Reduces Holdings in The Cigna Group (NYSE:CI)

Stock Yards Bank & Trust Co. decreased its position in shares of The Cigna Group (NYSE:CI) by 14.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 636 shares of the health services provider’s stock after selling 104 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in The Cigna Group were worth $210,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC purchased a new position in shares of The Cigna Group in the fourth quarter worth about $230,000. Independent Advisor Alliance grew its stake in The Cigna Group by 12.9% in the 4th quarter. Independent Advisor Alliance now owns 1,481 shares of the health services provider’s stock valued at $444,000 after buying an additional 169 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in The Cigna Group during the 4th quarter valued at $669,000. Clearbridge Investments LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth $490,000. Finally, Sachetta LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth $90,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CI has been the subject of several recent research reports. Jefferies Financial Group boosted their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Stephens reaffirmed an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Finally, Robert W. Baird assumed coverage on shares of The Cigna Group in a research note on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price on the stock. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Trading Down 0.2 %

Shares of CI stock opened at $355.39 on Thursday. The business has a 50-day moving average price of $346.11 and a two-hundred day moving average price of $344.75. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The firm has a market cap of $100.96 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.13 EPS. Equities analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Investors of record on Wednesday, September 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

About The Cigna Group

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.