Private Trust Co. NA Sells 289 Shares of The Cigna Group (NYSE:CI)

Private Trust Co. NA decreased its stake in The Cigna Group (NYSE:CI) by 11.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,132 shares of the health services provider’s stock after selling 289 shares during the period. Private Trust Co. NA’s holdings in The Cigna Group were worth $589,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Altrius Capital Management Inc boosted its position in shares of The Cigna Group by 6.3% during the fourth quarter. Altrius Capital Management Inc now owns 14,416 shares of the health services provider’s stock worth $3,981,000 after purchasing an additional 856 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its stake in The Cigna Group by 30.2% during the 4th quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,800 shares of the health services provider’s stock worth $773,000 after buying an additional 650 shares during the period. Linscomb Wealth Inc. lifted its holdings in The Cigna Group by 2.9% during the fourth quarter. Linscomb Wealth Inc. now owns 10,811 shares of the health services provider’s stock worth $2,985,000 after acquiring an additional 303 shares in the last quarter. Proficio Capital Partners LLC grew its stake in The Cigna Group by 34,280.8% in the fourth quarter. Proficio Capital Partners LLC now owns 238,603 shares of the health services provider’s stock valued at $65,888,000 after acquiring an additional 237,909 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of The Cigna Group by 5.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 13,162 shares of the health services provider’s stock worth $3,635,000 after acquiring an additional 699 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 1.9 %

CI stock opened at $308.66 on Friday. The company has a market cap of $85.85 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 0.98 and a beta of 0.54. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The business has a 50 day moving average price of $289.54 and a two-hundred day moving average price of $318.63. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share 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 firm earned $6.79 earnings per share. Analysts anticipate 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 will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CI. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company cut 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. Finally, UBS Group lowered their target price 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. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.