Private Trust Co. NA Has $667,000 Stock Holdings in Cigna Group $CI

Private Trust Co. NA decreased its holdings in shares of Cigna Group (NYSE:CI) by 8.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,018 shares of the health services provider’s stock after selling 190 shares during the period. Private Trust Co. NA’s holdings in Cigna Group were worth $667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Modern Wealth Management LLC boosted its holdings in Cigna Group by 91.3% during the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock worth $1,030,000 after buying an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Cigna Group by 3.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock worth $11,882,000 after acquiring an additional 1,357 shares during the last quarter. Acadian Asset Management LLC boosted its stake in Cigna Group by 277.5% during the 1st quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock worth $2,718,000 after acquiring an additional 6,082 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Cigna Group during the first quarter valued at approximately $431,000. Finally, Pzena Investment Management LLC increased its stake in Cigna Group by 9.7% in the second quarter. Pzena Investment Management LLC now owns 523,600 shares of the health services provider’s stock valued at $173,092,000 after purchasing an additional 46,140 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the sale, the insider owned 51,182 shares in the company, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the transaction, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Cigna Group Stock Up 3.0%

NYSE:CI opened at $299.81 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $297.27 and its two-hundred day moving average price is $308.13. Cigna Group has a twelve month low of $256.89 and a twelve month high of $353.55. The firm has a market capitalization of $80.03 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group’s payout ratio is 32.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CI. The Goldman Sachs Group began coverage on shares of Cigna Group in a research report on Tuesday. They set a “buy” rating and a $370.00 price target on the stock. Barclays lifted their target price on Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Robert W. Baird set a $372.00 price target on Cigna Group in a report on Thursday, August 14th. Wells Fargo & Company lifted their price objective on Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen lowered Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Cigna Group has an average rating of “Moderate Buy” and a consensus target price of $369.89.

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.