Argent Trust Co Buys 148 Shares of The Cigna Group (NYSE:CI)

Argent Trust Co raised its position in The Cigna Group (NYSE:CI) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,243 shares of the health services provider’s stock after purchasing an additional 148 shares during the period. Argent Trust Co’s holdings in The Cigna Group were worth $1,172,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Garden State Investment Advisory Services LLC bought a new position in shares of The Cigna Group during the third quarter valued at about $444,000. Sunbelt Securities Inc. increased its stake in The Cigna Group by 24.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 216 shares of the health services provider’s stock worth $75,000 after purchasing an additional 43 shares during the period. TD Private Client Wealth LLC lifted its position in The Cigna Group by 4.0% in the third quarter. TD Private Client Wealth LLC now owns 6,181 shares of the health services provider’s stock valued at $2,141,000 after purchasing an additional 235 shares during the last quarter. Advisory Resource Group boosted its stake in shares of The Cigna Group by 2.0% during the third quarter. Advisory Resource Group now owns 13,163 shares of the health services provider’s stock valued at $4,560,000 after purchasing an additional 263 shares during the period. Finally, Virtu Financial LLC grew its holdings in shares of The Cigna Group by 39.6% in the third quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider’s stock worth $5,949,000 after purchasing an additional 4,870 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company’s stock, valued at $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock valued at $13,603,991. Company insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $329.52 on Friday. The firm’s 50 day simple moving average is $312.04 and its two-hundred day simple moving average is $311.31. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a market capitalization of $90.18 billion, a P/E ratio of 26.92, a P/E/G ratio of 0.98 and a beta of 0.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the company posted $6.79 EPS. Research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CI shares. Oppenheimer dropped their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Barclays reduced their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. UBS Group dropped their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Stephens reduced their target price on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, Cantor Fitzgerald raised their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Two equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus price target of $375.00.

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.