Greenfield Savings Bank Purchases 79 Shares of The Cigna Group (NYSE:CI)

Greenfield Savings Bank grew its position in The Cigna Group (NYSE:CI) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,657 shares of the health services provider’s stock after acquiring an additional 79 shares during the quarter. Greenfield Savings Bank’s holdings in The Cigna Group were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in CI. TCTC Holdings LLC purchased a new stake in The Cigna Group during the fourth quarter valued at $25,000. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter worth about $32,000. Putney Financial Group LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $36,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the 4th quarter valued at about $37,000. Finally, Transce3nd LLC bought a new position in shares of The Cigna Group in the 4th quarter valued at about $38,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction dated 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 directly owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $311.77 on Wednesday. The company’s 50 day moving average is $324.44 and its 200 day moving average is $309.30. 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 firm has a market cap of $83.29 billion, a price-to-earnings ratio of 25.47, a PEG ratio of 0.98 and a beta of 0.47. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for 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 business’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $6.47 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio is currently 33.44%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cowen reissued a “buy” rating on shares of The Cigna Group in a research note on Monday, May 5th. Royal Bank of Canada restated an “outperform” rating and set a $371.00 price target on shares of The Cigna Group in a report on Tuesday. Guggenheim restated a “buy” rating and issued a $388.00 price target on shares of The Cigna Group in a research report on Friday, May 23rd. Robert W. Baird cut their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $380.39.

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.