Toronto Dominion Bank Lowers Stake in The Cigna Group (NYSE:CI)

Toronto Dominion Bank trimmed its position in The Cigna Group (NYSE:CI - Free Report) by 32.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,065 shares of the health services provider's stock after selling 45,808 shares during the quarter. Toronto Dominion Bank's holdings in The Cigna Group were worth $25,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. TCTC Holdings LLC acquired a new position in The Cigna Group in the fourth quarter valued at about $25,000. Collier Financial acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $32,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Transce3nd LLC purchased a new position in shares of The Cigna Group during the 4th quarter worth approximately $38,000. Finally, Heck Capital Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CI. Mizuho boosted their target price on The Cigna Group from $360.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen upgraded The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Truist Financial increased their target price on The Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Raymond James reaffirmed a "strong-buy" rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Barclays boosted their price target on shares of The Cigna Group from $339.00 to $382.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $379.33.

Insider Activity

In other news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares in the company, valued at approximately $39,367,568.04. The trade was a 17.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company's stock, valued at $9,065,198.52. The trade was a 14.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Stock Up 1.3%

NYSE:CI traded up $4.00 during trading hours on Friday, hitting $316.05. The company's stock had a trading volume of 2,705,856 shares, compared to its average volume of 1,714,008. The stock has a market capitalization of $84.43 billion, a P/E ratio of 25.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average of $324.84 and a 200-day moving average of $309.75. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The business's quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $6.47 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. The Cigna Group's dividend payout ratio is presently 33.44%.

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.