Mechanics Bank Trust Department Reduces Stock Holdings in The Cigna Group (NYSE:CI)

Mechanics Bank Trust Department lowered its stake in The Cigna Group (NYSE:CI) by 3.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,900 shares of the health services provider’s stock after selling 100 shares during the period. Mechanics Bank Trust Department’s holdings in The Cigna Group were worth $1,005,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CI. Silicon Valley Capital Partners grew its position in shares of The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after buying an additional 35 shares during the period. Cedar Wealth Management LLC bought a new position in shares of The Cigna Group during the first quarter valued at approximately $29,000. Raleigh Capital Management Inc. lifted its holdings in shares of The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group in the 2nd quarter worth approximately $33,000. Finally, Rise Advisors LLC bought a new position in The Cigna Group during the 1st quarter valued at approximately $59,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.1 %

Shares of CI opened at $350.30 on Monday. The company has a market capitalization of $99.51 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The stock’s 50-day moving average price is $348.81 and its 200-day moving average price is $344.64. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The Cigna Group’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.13 EPS. On average, sell-side analysts predict that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a $1.40 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of analyst reports. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Barclays upped their target price on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group upped their price objective on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Finally, Stephens reissued an “overweight” rating and issued a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $392.79.

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.