United Community Bank Has $210,000 Holdings in The Cigna Group (NYSE:CI)

United Community Bank increased its holdings in shares of The Cigna Group (NYSE:CI) by 65.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 761 shares of the health services provider’s stock after acquiring an additional 300 shares during the quarter. United Community Bank’s holdings in The Cigna Group were worth $210,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Swedbank AB grew its position in The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after buying an additional 119,681 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the 3rd quarter worth $45,000. Van ECK Associates Corp increased its position in shares of The Cigna Group by 1.8% in the third quarter. Van ECK Associates Corp now owns 15,137 shares of the health services provider’s stock worth $4,807,000 after purchasing an additional 265 shares during the period. Concurrent Investment Advisors LLC raised its stake in The Cigna Group by 1.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,064 shares of the health services provider’s stock valued at $1,408,000 after purchasing an additional 51 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in The Cigna Group by 3.6% during 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 period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of several analyst reports. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Stephens cut their target price on 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. Wells Fargo & Company reduced their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Raymond James restated a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two equities research 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 stock. Based on data from MarketBeat, The Cigna Group currently has an average rating of “Buy” and an average price target of $372.31.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. This trade 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 corporate insiders.

The Cigna Group Stock Up 1.9 %

Shares of NYSE:CI opened at $321.48 on Friday. The firm has a market cap of $87.98 billion, a P/E ratio of 26.26, a P/E/G 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 business has a fifty day simple moving average of $292.84 and a 200 day simple moving average of $317.71. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 period in the prior year, the company earned $6.79 EPS. Analysts predict that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm 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 $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is currently 49.35%.

About The Cigna Group

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.