Canandaigua National Bank & Trust Co. Boosts Holdings in Cigna Group (NYSE:CI)

Canandaigua National Bank & Trust Co. grew its position in shares of Cigna Group (NYSE:CI - Free Report) by 48.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 9,543 shares of the health services provider's stock after purchasing an additional 3,131 shares during the quarter. Canandaigua National Bank & Trust Co.'s holdings in Cigna Group were worth $3,140,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in shares of Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after purchasing an additional 318 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Cigna Group by 5.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,162 shares of the health services provider's stock worth $3,635,000 after buying an additional 699 shares during the period. SVB Wealth LLC purchased a new stake in Cigna Group during the fourth quarter valued at about $2,323,000. Fisher Asset Management LLC increased its position in shares of Cigna Group by 67.5% in the fourth quarter. Fisher Asset Management LLC now owns 2,239 shares of the health services provider's stock worth $619,000 after acquiring an additional 902 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in shares of Cigna Group by 0.9% during the fourth quarter. Metis Global Partners LLC now owns 11,918 shares of the health services provider's stock valued at $3,291,000 after acquiring an additional 109 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CI. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. TD Cowen raised Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Piper Sandler lifted their target price on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Robert W. Baird dropped their target price on Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Guggenheim reissued a "buy" rating and issued a $388.00 price target on shares of Cigna Group in a research note on Friday, May 23rd. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $380.39.

Cigna Group Stock Up 1.7%

Shares of CI traded up $5.67 on Tuesday, reaching $336.25. The company's stock had a trading volume of 979,683 shares, compared to its average volume of 1,727,821. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The stock has a market capitalization of $89.82 billion, a PE ratio of 18.62, a PEG ratio of 0.97 and a beta of 0.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The firm has a fifty day moving average of $320.75 and a 200-day moving average of $308.42.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The company's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the business posted $6.47 earnings per share. Equities analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is currently 33.44%.

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.