Cambridge Trust Co. Trims Holdings in The Cigna Group (NYSE:CI)

Cambridge Trust Co. reduced its holdings in shares of The Cigna Group (NYSE:CI) by 59.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 228 shares of the health services provider’s stock after selling 330 shares during the period. Cambridge Trust Co.’s holdings in The Cigna Group were worth $68,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC increased its stake in The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after buying an additional 46 shares during the period. OFI Invest Asset Management acquired a new position in shares of The Cigna Group during the third quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in The Cigna Group during the fourth quarter worth about $29,000. Fairfield Bush & CO. acquired a new stake in The Cigna Group in the second quarter valued at about $28,000. Finally, VisionPoint Advisory Group LLC boosted its holdings in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Oppenheimer reaffirmed an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a research note on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Mizuho upped their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $362.14.

Insider Transactions at The Cigna Group

In related news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Eric P. Palmer sold 6,083 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total transaction of $2,068,220.00. Following the completion of the transaction, the insider now owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the completion of the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders sold a total of 114,144 shares of company stock worth $39,296,330 over the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Trading Up 1.0 %

Shares of The Cigna Group stock opened at $352.39 on Friday. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The business has a 50 day moving average price of $348.41 and a 200 day moving average price of $315.48. The company has a market capitalization of $103.02 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.07 and a beta of 0.56.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.96 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 32.20%.

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.