The Cigna Group (NYSE:CI) Shares Sold by Webster Bank N. A.

Webster Bank N. A. cut its stake in The Cigna Group (NYSE:CI) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,198 shares of the health services provider’s stock after selling 142 shares during the period. Webster Bank N. A.’s holdings in The Cigna Group were worth $1,454,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FIL Ltd boosted its stake in The Cigna Group by 0.5% during the 4th quarter. FIL Ltd now owns 874,042 shares of the health services provider’s stock valued at $261,732,000 after purchasing an additional 4,746 shares during the period. Raleigh Capital Management Inc. grew its position in The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Beacon Financial Group purchased a new position in The Cigna Group during the fourth quarter valued at approximately $775,000. Syon Capital LLC grew its position in The Cigna Group by 33.3% in the fourth quarter. Syon Capital LLC now owns 3,500 shares of the health services provider’s stock worth $1,048,000 after acquiring an additional 875 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its position in The Cigna Group by 8.9% in the fourth quarter. EP Wealth Advisors LLC now owns 4,966 shares of the health services provider’s stock worth $1,487,000 after acquiring an additional 406 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 0.1 %

Shares of NYSE:CI traded down $0.20 during mid-day trading on Friday, reaching $350.30. The stock had a trading volume of 786,700 shares, compared to its average volume of 1,480,193. The firm has a market cap of $99.51 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The firm has a 50 day simple moving average of $348.81 and a two-hundred day simple moving average of $344.77. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the company posted $6.13 EPS. On average, research analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, October 1st. Piper Sandler initiated coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 target price for the company. Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, Barclays upped their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and a consensus price target of $392.79.

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.