Rockland Trust Co. Trims Stake in The Cigna Group (NYSE:CI)

Rockland Trust Co. cut its stake in The Cigna Group (NYSE:CI) by 61.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 735 shares of the health services provider’s stock after selling 1,184 shares during the period. Rockland Trust Co.’s holdings in The Cigna Group were worth $255,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Czech National Bank lifted its stake in shares of The Cigna Group by 5.2% in the 3rd quarter. Czech National Bank now owns 56,947 shares of the health services provider’s stock valued at $19,729,000 after purchasing an additional 2,813 shares during the period. AMF Tjanstepension AB lifted its position in The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock valued at $25,511,000 after buying an additional 11,550 shares during the period. Mattson Financial Services LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at $2,821,000. Anchor Investment Management LLC boosted its holdings in shares of The Cigna Group by 4.7% during the 2nd quarter. Anchor Investment Management LLC now owns 4,768 shares of the health services provider’s stock valued at $1,576,000 after buying an additional 214 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of The Cigna Group in the 2nd quarter worth about $13,895,000. 86.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

CI has been the subject of a number of recent research reports. Piper Sandler started coverage on shares of The Cigna Group in a research report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Stephens restated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, August 2nd. Barclays lifted their price objective on The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Tuesday. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus target price of $392.79.

Insider Buying and Selling

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the 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 transaction, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

The Cigna Group Stock Performance

Shares of CI stock traded up $1.14 during trading hours on Friday, reaching $341.70. The company had a trading volume of 720,032 shares, compared to its average volume of 1,495,753. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The business has a fifty day moving average price of $348.53 and a 200-day moving average price of $345.11. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The firm has a market cap of $97.07 billion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business 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 company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.13 EPS. Sell-side analysts predict that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 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.