The Cigna Group (NYSE:CI) Shares Purchased by FARMERS & MERCHANTS TRUST Co OF LONG BEACH

FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in shares of The Cigna Group (NYSE:CI) by 4.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,769 shares of the health services provider’s stock after purchasing an additional 337 shares during the quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in The Cigna Group were worth $2,691,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fiduciary Financial Group LLC lifted its stake in shares of The Cigna Group by 8.2% in the third quarter. Fiduciary Financial Group LLC now owns 1,152 shares of the health services provider’s stock worth $396,000 after buying an additional 87 shares in the last quarter. Wynn Capital LLC boosted its stake in The Cigna Group by 3.9% during the third quarter. Wynn Capital LLC now owns 3,351 shares of the health services provider’s stock worth $1,161,000 after buying an additional 125 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of The Cigna Group by 27.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 35,717 shares of the health services provider’s stock worth $12,373,000 after acquiring an additional 7,800 shares during the last quarter. Castle Rock Wealth Management LLC boosted its position in shares of The Cigna Group by 0.5% during the 3rd quarter. Castle Rock Wealth Management LLC now owns 6,651 shares of the health services provider’s stock valued at $2,263,000 after acquiring an additional 34 shares during the last quarter. Finally, Successful Portfolios LLC purchased a new stake in shares of The Cigna Group in the third quarter valued at about $203,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CI has been the topic of several recent analyst reports. 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. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. Jefferies Financial Group increased their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Finally, Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. One equities 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. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $392.79.

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 that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.1 %

The Cigna Group stock opened at $350.30 on Friday. The company has a market capitalization of $97.93 billion, a P/E ratio of 27.56, a PEG ratio of 1.05 and a beta of 0.50. 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 Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a 50-day simple moving average of $348.81 and a 200-day simple moving average of $344.86.

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, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.13 earnings per share. Equities research analysts expect that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.60%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is currently 44.06%.

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.