Whittier Trust Co. Buys 45 Shares of The Cigna Group (NYSE:CI)

Whittier Trust Co. boosted its position in The Cigna Group (NYSE:CI) by 0.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,710 shares of the health services provider’s stock after buying an additional 45 shares during the period. Whittier Trust Co.’s holdings in The Cigna Group were worth $2,325,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Western Financial Corp CA increased its holdings in shares of The Cigna Group by 7.6% during the third quarter. Western Financial Corp CA now owns 2,310 shares of the health services provider’s stock valued at $800,000 after acquiring an additional 163 shares in the last quarter. Bellecapital International Ltd. acquired a new stake in The Cigna Group in the 3rd quarter valued at $203,000. Violich Capital Management Inc. increased its stake in The Cigna Group by 15.0% during the 3rd quarter. Violich Capital Management Inc. now owns 9,265 shares of the health services provider’s stock valued at $3,210,000 after purchasing an additional 1,210 shares in the last quarter. McClarren Financial Advisors Inc. raised its holdings in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock worth $240,000 after buying an additional 31 shares during the last quarter. Finally, Nepsis Inc. lifted its stake in shares of The Cigna Group by 7.4% in the third quarter. Nepsis Inc. now owns 49,435 shares of the health services provider’s stock valued at $17,126,000 after buying an additional 3,394 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Piper Sandler started coverage on The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price on the stock. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Tuesday, October 1st. One equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $392.79.

The Cigna Group Price Performance

The Cigna Group stock opened at $317.46 on Wednesday. The business’s 50 day simple moving average is $350.20 and its 200 day simple moving average is $343.58. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $370.83. The company has a market cap of $90.18 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.05 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 (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same quarter in the prior year, the company earned $6.13 EPS. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. Sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on 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 approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

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.