Essex Savings Bank Sells 88 Shares of The Cigna Group (NYSE:CI)

Essex Savings Bank lessened its stake in shares of The Cigna Group (NYSE:CI) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,347 shares of the health services provider’s stock after selling 88 shares during the quarter. Essex Savings Bank’s holdings in The Cigna Group were worth $924,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after purchasing an additional 31 shares during the period. IFG Advisors LLC lifted its stake in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after purchasing an additional 31 shares during the period. McClarren Financial Advisors Inc. boosted its holdings in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after purchasing an additional 31 shares in the last quarter. SPC Financial Inc. raised its holdings in shares of The Cigna Group by 0.7% in the 2nd quarter. SPC Financial Inc. now owns 5,119 shares of the health services provider’s stock worth $1,692,000 after buying an additional 34 shares in the last quarter. Finally, Castle Rock Wealth Management LLC boosted its stake in The Cigna Group by 0.5% in 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 buying an additional 34 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. Truist Financial cut their price target on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Barclays boosted their target price on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $395.93.

The Cigna Group Price Performance

The Cigna Group stock opened at $284.49 on Thursday. The firm has a market capitalization of $79.13 billion, a P/E ratio of 26.84, a PEG ratio of 0.88 and a beta of 0.54. The business has a 50-day moving average of $303.49 and a 200-day moving average of $327.70. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. During the same quarter in the prior year, the firm earned $6.77 earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a $1.40 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.97%. The Cigna Group’s dividend payout ratio is currently 52.83%.

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.