Intrust Bank NA Cuts Stake in The Cigna Group (NYSE:CI)

Intrust Bank NA decreased its position in The Cigna Group (NYSE:CI) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,667 shares of the health services provider’s stock after selling 116 shares during the period. Intrust Bank NA’s holdings in The Cigna Group were worth $1,289,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in CI. Allstate Corp purchased a new position in The Cigna Group in the fourth quarter worth $2,293,000. Maridea Wealth Management LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $343,000. DnB Asset Management AS lifted its stake in shares of The Cigna Group by 6.7% in the fourth quarter. DnB Asset Management AS now owns 130,201 shares of the health services provider’s stock valued at $35,954,000 after purchasing an additional 8,139 shares during the period. Level Four Advisory Services LLC boosted its holdings in The Cigna Group by 12.1% during the fourth quarter. Level Four Advisory Services LLC now owns 1,941 shares of the health services provider’s stock worth $536,000 after buying an additional 210 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in The Cigna Group by 13.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 44,991 shares of the health services provider’s stock worth $12,424,000 after buying an additional 5,258 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CI shares. Oppenheimer reduced their price target on shares of 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. Truist Financial lowered their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Cantor Fitzgerald lifted their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $373.25.

The Cigna Group Trading Up 0.1 %

Shares of CI opened at $324.97 on Friday. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The company has a market capitalization of $88.94 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The stock has a fifty day moving average of $304.67 and a two-hundred day moving average of $313.78. 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 (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 previous year, the company earned $6.79 EPS. As a group, analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were given a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now directly owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company’s stock.

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.