M&T Bank Corp Has $18.75 Million Holdings in The Cigna Group (NYSE:CI)

M&T Bank Corp trimmed its stake in shares of The Cigna Group (NYSE:CI) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,131 shares of the health services provider’s stock after selling 183 shares during the period. M&T Bank Corp’s holdings in The Cigna Group were worth $18,753,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CI. Geller Advisors LLC raised its stake in shares of The Cigna Group by 3.1% during the third quarter. Geller Advisors LLC now owns 1,988 shares of the health services provider’s stock worth $689,000 after buying an additional 59 shares during the last quarter. Groupama Asset Managment grew its stake in shares of The Cigna Group by 58.3% during the third quarter. Groupama Asset Managment now owns 15,802 shares of the health services provider’s stock worth $5,474,000 after purchasing an additional 5,819 shares during the period. Roffman Miller Associates Inc. PA increased its holdings in The Cigna Group by 2,536.0% in the third quarter. Roffman Miller Associates Inc. PA now owns 45,366 shares of the health services provider’s stock valued at $15,717,000 after purchasing an additional 43,645 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in The Cigna Group by 6.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 105,479 shares of the health services provider’s stock valued at $36,542,000 after buying an additional 6,585 shares during the period. Finally, MML Investors Services LLC boosted its holdings in The Cigna Group by 6.3% during the third quarter. MML Investors Services LLC now owns 29,633 shares of the health services provider’s stock worth $10,266,000 after buying an additional 1,760 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE CI opened at $276.92 on Friday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a market capitalization of $77.03 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 0.88 and a beta of 0.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average of $319.28 and a 200-day moving average of $334.55.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the company earned $6.77 earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analyst Ratings Changes

Several research firms recently weighed in on CI. Royal Bank of Canada reduced their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $394.64.

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.