First National Bank & Trust Co. of Newtown Reduces Stock Holdings in The Cigna Group (NYSE:CI)

First National Bank & Trust Co. of Newtown reduced its stake in shares of The Cigna Group (NYSE:CI) by 11.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,477 shares of the health services provider’s stock after selling 200 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in The Cigna Group were worth $442,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Axiom Financial Strategies LLC acquired a new position in shares of The Cigna Group in the 1st quarter worth approximately $212,000. Fairfield Bush & CO. acquired a new position in shares of The Cigna Group in the 1st quarter worth approximately $40,000. Cibc World Market Inc. grew its position in shares of The Cigna Group by 52.6% in the 1st quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock worth $4,547,000 after acquiring an additional 6,538 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of The Cigna Group by 6.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock worth $2,265,000 after acquiring an additional 566 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of The Cigna Group by 36.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock worth $307,000 after acquiring an additional 343 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 38,065 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the transaction, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the sale, the insider now directly owns 44,649 shares in the company, valued at approximately $15,180,660. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,144 shares of company stock worth $39,296,330. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Mizuho lifted their target price on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Oppenheimer restated an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a research report on Wednesday, January 17th. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Wednesday, April 10th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $362.14.

The Cigna Group Price Performance

Shares of CI traded up $2.83 during mid-day trading on Friday, reaching $351.61. The company had a trading volume of 504,917 shares, compared to its average volume of 1,591,538. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The company’s 50-day moving average is $348.06 and its 200-day moving average is $315.03. The company has a market capitalization of $102.80 billion, a P/E ratio of 20.06, a P/E/G ratio of 1.06 and a beta of 0.56.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The business had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The Cigna Group’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.96 EPS. On average, equities analysts anticipate that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.59%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 32.20%.

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.