Glenview Trust co Has $4.64 Million Stock Holdings in The Cigna Group (NYSE:CI)

Glenview Trust co grew its position in The Cigna Group (NYSE:CI) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,807 shares of the health services provider’s stock after buying an additional 274 shares during the period. Glenview Trust co’s holdings in The Cigna Group were worth $4,641,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in The Cigna Group in the fourth quarter valued at about $313,911,000. Amundi grew its position in shares of The Cigna Group by 19.9% in the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after purchasing an additional 374,865 shares during the period. Swedbank AB increased its stake in The Cigna Group by 55.1% during the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider’s stock worth $244,220,000 after purchasing an additional 314,123 shares in the last quarter. FMR LLC raised its holdings in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in The Cigna Group by 34,280.8% during the 4th quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock worth $65,888,000 after buying an additional 237,909 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.4 %

Shares of CI opened at $313.35 on Monday. The firm has a market cap of $85.76 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm’s 50-day simple moving average is $296.79 and its 200 day simple moving average is $316.23.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the business posted $6.79 EPS. On average, analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.93%. The Cigna Group’s dividend payout ratio is 49.35%.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on CI. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Barclays lowered their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Finally, Oppenheimer reduced their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $372.31.

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.