The Cigna Group (NYSE:CI) Shares Sold by AMG National Trust Bank

AMG National Trust Bank cut its position in The Cigna Group (NYSE:CI) by 8.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,713 shares of the health services provider’s stock after selling 359 shares during the period. AMG National Trust Bank’s holdings in The Cigna Group were worth $1,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $37,000. Collier Financial purchased a new position in shares of The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at $34,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group in the 3rd quarter valued at $45,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group in the 4th quarter valued at $37,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Stock Up 1.9 %

CI stock opened at $321.48 on Friday. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The stock has a market capitalization of $87.98 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company has a fifty day moving average of $292.84 and a 200-day moving average of $317.71.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate 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 earnings per share. As a group, analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.88%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insider Activity at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction dated 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 owns 29,421 shares of the company’s stock, 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. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent analyst reports. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Royal Bank of Canada set a $355.00 target price on shares of The Cigna Group in a research report on Friday, January 31st. Stephens dropped their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company lowered their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $372.31.

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.