The Cigna Group (NYSE:CI) Shares Sold by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. lessened its holdings in shares of The Cigna Group (NYSE:CI) by 10.8% during the 4th quarter, Holdings Channel reports. The firm owned 5,087 shares of the health services provider’s stock after selling 616 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in The Cigna Group were worth $1,405,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CI. AMF Tjanstepension AB lifted its position in shares of The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares in the last quarter. Creative Planning lifted its position in shares of The Cigna Group by 7.2% during the third quarter. Creative Planning now owns 59,655 shares of the health services provider’s stock worth $20,667,000 after purchasing an additional 3,994 shares in the last quarter. Swedbank AB lifted its position in shares of 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 purchasing an additional 119,681 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of The Cigna Group by 2.0% during the third quarter. Global Retirement Partners LLC now owns 3,201 shares of the health services provider’s stock worth $1,109,000 after purchasing an additional 62 shares in the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of The Cigna Group by 7.5% during the third quarter. Inspire Advisors LLC now owns 687 shares of the health services provider’s stock worth $238,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI opened at $292.12 on Monday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a market cap of $81.25 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The company’s 50 day simple moving average is $286.46 and its 200-day simple moving average is $320.67. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results 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 quarter in the previous year, the business earned $6.79 EPS. As a group, equities analysts predict that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. The Cigna Group’s dividend payout ratio (DPR) is currently 45.75%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CI. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com lowered shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Morgan Stanley cut their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Finally, Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $373.69.

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.