Stock Yards Bank & Trust Co. Makes New Investment in Cigna Group $CI

Key Points

• Stock Yards Bank & Trust Co. acquired a new investment in Cigna Group during the 2nd quarter, purchasing 839 shares valued at approximately $277,000.
• Cigna Group reported a quarterly EPS of $7.20, exceeding analysts' estimates, with revenues also surpassing expectations at $67.13 billion, a growth of 11.0% year-over-year.
• The company recently declared a quarterly dividend of $1.51, translating to an annualized dividend yield of 1.9%, with a payout ratio of 32.97%.

Stock Yards Bank & Trust Co. purchased a new position in shares of Cigna Group (NYSE:CI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 839 shares of the health services provider's stock, valued at approximately $277,000.

Several other institutional investors have also bought and sold shares of the company. Flaharty Asset Management LLC purchased a new stake in Cigna Group in the 1st quarter worth about $28,000. 1248 Management LLC purchased a new position in shares of Cigna Group in the first quarter worth about $29,000. Activest Wealth Management raised its position in shares of Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after purchasing an additional 72 shares during the period. Retirement Wealth Solutions LLC boosted its holdings in Cigna Group by 74.1% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider's stock worth $33,000 after buying an additional 43 shares during the period. Finally, Saudi Central Bank purchased a new position in Cigna Group in the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Stock Up 4.8%

CI stock opened at $311.24 on Monday. The company's 50 day moving average is $292.41 and its 200 day moving average is $309.65. The stock has a market cap of $83.08 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.91 and a beta of 0.45. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 1-year low of $256.89 and a 1-year high of $358.88.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The business had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 1.9%. Cigna Group's payout ratio is currently 32.97%.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the transaction, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CI shares. Wells Fargo & Company cut their price target on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. Barclays raised their target price on Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Cantor Fitzgerald reiterated an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Finally, Robert W. Baird set a $372.00 target price on shares of Cigna Group in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Cigna Group presently has an average rating of "Moderate Buy" and an average target price of $371.81.

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.

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