The Cigna Group (NYSE:CI) Shares Sold by Somerset Trust Co

Somerset Trust Co reduced its position in The Cigna Group (NYSE:CI) by 1.9% in the 1st quarter, Holdings Channel reports. The firm owned 2,163 shares of the health services provider’s stock after selling 42 shares during the period. Somerset Trust Co’s holdings in The Cigna Group were worth $712,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CI. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in shares of The Cigna Group in the 4th quarter valued at about $32,000. Putney Financial Group LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at about $36,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group in the 4th quarter valued at about $37,000. Finally, Transce3nd LLC purchased a new stake in shares of The Cigna Group in the 4th quarter valued at about $38,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on CI shares. Raymond James reissued a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Oppenheimer reduced their price objective on 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. UBS Group reduced their price objective on 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. Robert W. Baird reduced their price objective on The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Finally, Cowen reaffirmed a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $379.33.

The Cigna Group Stock Performance

Shares of CI stock opened at $316.05 on Friday. The company has a market cap of $84.43 billion, a price-to-earnings ratio of 25.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47. The stock has a 50 day simple moving average of $324.83 and a 200-day simple moving average of $309.58. The Cigna Group has a 12-month low of $262.03 and a 12-month 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 Cigna Group (NYSE:CI) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The company’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $6.47 EPS. On average, equities analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is 33.44%.

Insider Transactions at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now owns 13,406 shares in the company, valued at $4,289,920. This represents a 42.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’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 $1,511,020.48. Following the completion of the sale, the insider now owns 29,421 shares in the company, valued at approximately $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 three months, insiders sold 43,751 shares of company stock valued at $13,603,991. Corporate insiders own 0.70% 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.