The Cigna Group (NYSE:CI) Shares Acquired by Argent Trust Co

Argent Trust Co boosted its stake in The Cigna Group (NYSE:CI) by 3.0% in the second quarter, Holdings Channel.com reports. The fund owned 3,877 shares of the health services provider’s stock after buying an additional 114 shares during the quarter. Argent Trust Co’s holdings in The Cigna Group were worth $1,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Silicon Valley Capital Partners grew its stake in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after buying an additional 35 shares during the last quarter. Cedar Wealth Management LLC purchased a new position in The Cigna Group during the 1st quarter worth $29,000. Raleigh Capital Management Inc. increased its stake in 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 valued at $30,000 after purchasing an additional 41 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of The Cigna Group during the second quarter worth about $33,000. Finally, Pineridge Advisors LLC purchased a new position in shares of The Cigna Group during the fourth quarter worth about $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of the business’s 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 owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the transaction, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE CI opened at $357.42 on Friday. 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 company’s 50-day moving average price is $346.59 and its 200 day moving average price is $344.83. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The stock has a market cap of $101.53 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.09 and a beta of 0.50.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period in the prior year, the business earned $6.13 earnings per share. The company’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, research 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 declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.57%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Jefferies Financial Group boosted their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Monday. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Barclays raised their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price 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.