First National Trust Co Sells 82 Shares of The Cigna Group (NYSE:CI)

First National Trust Co cut its stake in The Cigna Group (NYSE:CI) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 820 shares of the health services provider’s stock after selling 82 shares during the period. First National Trust Co’s holdings in The Cigna Group were worth $226,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Sterling Financial Group Inc. bought a new position in shares of The Cigna Group in the fourth quarter worth about $4,367,000. Principal Financial Group Inc. grew 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 purchasing an additional 11,228 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its holdings in shares of The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after purchasing an additional 858 shares during the last quarter. Valley Wealth Managers Inc. grew its holdings in shares of The Cigna Group by 2.8% in the fourth quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co grew its holdings in shares of The Cigna Group by 28.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock worth $5,444,000 after purchasing an additional 3,466 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

Shares of NYSE CI opened at $313.35 on Friday. The stock has a market capitalization of $85.76 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm’s 50 day simple moving average is $296.79 and its 200-day simple moving average is $316.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm posted $6.79 EPS. Analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.93%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analysts Set New Price Targets

A number of research firms have recently commented on CI. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. UBS Group lowered their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Stephens lowered their price objective 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. Finally, Oppenheimer lowered their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $372.31.

Insider Activity

In other news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,375 shares of company stock worth $12,866,600 in the last quarter. Corporate insiders own 0.60% of the company’s stock.

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.