Canandaigua National Trust Co of Florida Takes $666,000 Position in Cigna Group (NYSE:CI)

Canandaigua National Trust Co of Florida bought a new stake in shares of Cigna Group (NYSE:CI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,024 shares of the health services provider's stock, valued at approximately $666,000.

Other large investors also recently modified their holdings of the company. Two Sigma Investments LP lifted its position in shares of Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after purchasing an additional 188,235 shares during the last quarter. Humankind Investments LLC lifted its position in shares of Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after purchasing an additional 571 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Cigna Group during the first quarter worth about $123,000. First American Trust FSB bought a new position in shares of Cigna Group during the fourth quarter worth about $4,471,000. Finally, English Capital Management LLC lifted its position in shares of Cigna Group by 6.2% during the fourth quarter. English Capital Management LLC now owns 20,586 shares of the health services provider's stock worth $5,685,000 after purchasing an additional 1,202 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Price Performance

NYSE CI opened at $326.68 on Monday. The stock has a market capitalization of $87.27 billion, a P/E ratio of 18.09, a P/E/G ratio of 0.97 and a beta of 0.44. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The business's fifty day moving average is $320.64 and its two-hundred day moving average is $308.08. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72.

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

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is currently 33.44%.

Analysts Set New Price Targets

Several brokerages have recently commented on CI. Morgan Stanley increased their price target on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Piper Sandler raised their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Truist Financial raised their target price on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Barclays reissued an "overweight" rating and issued a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Finally, Mizuho raised their target price on shares of Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a report on Wednesday, April 9th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $380.39.

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.

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