The Cigna Group (NYSE:CI) Shares Acquired by Morton Community Bank

Morton Community Bank raised its stake in The Cigna Group (NYSE:CI) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,048 shares of the health services provider’s stock after purchasing an additional 205 shares during the quarter. Morton Community Bank’s holdings in The Cigna Group were worth $3,327,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CI. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group during the 4th quarter worth approximately $34,000. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new stake in shares of The Cigna Group during the 4th quarter valued at approximately $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Up 1.9 %

Shares of NYSE CI opened at $321.48 on Monday. The firm has a market capitalization of $87.98 billion, a PE ratio of 26.26, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. 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 business has a 50-day moving average price of $292.84 and a two-hundred day moving average price of $317.54.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the firm posted $6.79 earnings per share. As a group, analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on CI. Morgan Stanley decreased their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Cantor Fitzgerald lowered their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Raymond James reiterated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $372.31.

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.