First Interstate Bank Raises Holdings in The Cigna Group (NYSE:CI)

First Interstate Bank lifted its holdings in The Cigna Group (NYSE:CI) by 25.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,385 shares of the health services provider’s stock after buying an additional 281 shares during the quarter. First Interstate Bank’s holdings in The Cigna Group were worth $480,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in shares of The Cigna Group by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after acquiring an additional 625 shares during the period. Hancock Whitney Corp increased its position in shares of The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after buying an additional 1,629 shares in the last quarter. ORG Partners LLC acquired a new position in shares of The Cigna Group during the 2nd quarter worth $489,000. Mirae Asset Global Investments Co. Ltd. grew its stake in The Cigna Group by 21.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock valued at $34,304,000 after acquiring an additional 16,846 shares during the last quarter. Finally, Tidal Investments LLC increased its holdings in The Cigna Group by 36.0% during the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after acquiring an additional 4,043 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.5 %

NYSE:CI traded up $1.68 during trading hours on Friday, reaching $316.49. 2,810,769 shares of the company were exchanged, compared to its average volume of 1,526,703. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock has a 50 day simple moving average of $345.77 and a 200 day simple moving average of $341.55. The firm has a market cap of $88.47 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 0.95 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter last year, the firm posted $6.77 earnings per share. The Cigna Group’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.77%. The Cigna Group’s dividend payout ratio is currently 44.06%.

Insider Buying and Selling at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the company’s 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 sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CI. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday. Jefferies Financial Group boosted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Royal Bank of Canada decreased their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Barclays boosted their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $392.29.

The 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.