FARMERS & MERCHANTS TRUST Co OF LONG BEACH Acquires 337 Shares of The Cigna Group (NYSE:CI)

FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in The Cigna Group (NYSE:CI) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,769 shares of the health services provider’s stock after acquiring an additional 337 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH’s holdings in The Cigna Group were worth $2,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Silicon Valley Capital Partners boosted its stake in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after purchasing an additional 35 shares during the period. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the first quarter worth $29,000. Raleigh Capital Management Inc. grew its stake in The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in The Cigna Group in the 2nd quarter valued at $33,000. Finally, Pineridge Advisors LLC purchased a new stake in The Cigna Group in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Stock Down 0.1 %

Shares of The Cigna Group stock opened at $350.30 on Friday. The company has a market cap of $97.93 billion, a P/E ratio of 27.56, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average price is $348.81 and its 200-day moving average price is $344.86.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $6.13 EPS. On average, sell-side analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is 44.06%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CI. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Tuesday, October 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Stephens restated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research report on Friday, August 2nd. Finally, StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $392.79.

About The Cigna Group

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.