Central Pacific Bank Trust Division Sells 50 Shares of The Cigna Group (NYSE:CI)

Central Pacific Bank Trust Division lessened its holdings in shares of The Cigna Group (NYSE:CI) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,801 shares of the health services provider’s stock after selling 50 shares during the quarter. Central Pacific Bank Trust Division’s holdings in The Cigna Group were worth $2,703,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mattson Financial Services LLC purchased a new stake in shares of The Cigna Group during the 2nd quarter valued at $2,821,000. Anchor Investment Management LLC lifted its stake in The Cigna Group by 4.7% during the second quarter. Anchor Investment Management LLC now owns 4,768 shares of the health services provider’s stock worth $1,576,000 after purchasing an additional 214 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of The Cigna Group during the 2nd quarter valued at about $13,895,000. Brown Financial Advisors purchased a new position in shares of The Cigna Group during the 2nd quarter valued at about $1,700,000. Finally, Kestra Investment Management LLC bought a new stake in The Cigna Group in the 2nd quarter worth approximately $439,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock opened at $340.64 on Thursday. The business has a fifty day simple moving average of $348.58 and a two-hundred day simple moving average of $345.22. The firm has a market capitalization of $96.77 billion, a P/E ratio of 27.97, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the business earned $6.13 earnings per share. On average, equities analysts forecast that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.64%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Activity

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CI. JPMorgan Chase & Co. increased their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Tuesday. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $392.79.

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.