Comerica Bank decreased its position in shares of The Cigna Group (NYSE:CI - Free Report) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,630 shares of the health services provider's stock after selling 6,727 shares during the quarter. Comerica Bank's holdings in The Cigna Group were worth $17,571,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of CI. Sterling Financial Group Inc. bought a new stake in shares of The Cigna Group in the 4th quarter valued at $4,367,000. Principal Financial Group Inc. increased its holdings in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock worth $112,216,000 after acquiring an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of The Cigna Group by 1.1% during the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. lifted its holdings in shares of The Cigna Group by 2.8% during the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider's stock valued at $15,721,000 after purchasing an additional 1,548 shares in the last quarter. Finally, KBC Group NV grew its position in shares of The Cigna Group by 1.5% in the 4th quarter. KBC Group NV now owns 550,638 shares of the health services provider's stock valued at $152,053,000 after purchasing an additional 8,077 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.
The Cigna Group Stock Performance
NYSE CI traded down $1.76 during trading on Monday, reaching $332.99. The company's stock had a trading volume of 1,472,571 shares, compared to its average volume of 1,698,168. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a 50 day moving average price of $323.21 and a 200 day moving average price of $309.60. The firm has a market capitalization of $91.13 billion, a price-to-earnings ratio of 27.21, 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 Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. The company had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the previous year, the company earned $6.47 EPS. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.
The Cigna Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued 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 1.81%. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. StockNews.com raised shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Stephens reduced their target price on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. Cantor Fitzgerald lifted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research report on Friday, January 31st. Finally, Barclays lifted their target price on The Cigna Group from $339.00 to $382.00 and gave the company an "overweight" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, The Cigna Group presently has a consensus rating of "Buy" and a consensus price target of $378.00.
Read Our Latest Stock Report on The Cigna Group
Insider Activity
In other news, Director Elder Granger sold 2,376 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now directly owns 29,421 shares of the company's stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.
The Cigna Group Company Profile
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Free Report)
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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