First Interstate Bank Grows Stake in The Cigna Group (NYSE:CI)

First Interstate Bank grew its holdings in shares of The Cigna Group (NYSE:CI) by 25.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,385 shares of the health services provider’s stock after purchasing an additional 281 shares during the period. First Interstate Bank’s holdings in The Cigna Group were worth $480,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Cedar Wealth Management LLC purchased a new position in shares of The Cigna Group in the first quarter worth about $29,000. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group during the second quarter worth $33,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group in the second quarter valued at $66,000. Finally, Private Ocean LLC grew its position in The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

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 transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CI has been the topic of several recent analyst reports. Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. Stephens restated an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a report on Friday. 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, Jefferies Financial Group boosted their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $392.29.

The Cigna Group Stock Up 0.5 %

The Cigna Group stock traded up $1.68 during trading on Friday, reaching $316.49. The stock had a trading volume of 2,810,769 shares, compared to its average volume of 1,526,703. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. 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 $88.47 billion, a PE ratio of 24.92, a P/E/G ratio of 0.95 and a beta of 0.50. The business has a 50 day moving average price of $345.77 and a 200 day moving average price of $341.55.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the previous year, the business earned $6.77 EPS. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.77%. The Cigna Group’s dividend payout ratio (DPR) is presently 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.