First American Trust FSB Acquires Shares of 16,192 The Cigna Group (NYSE:CI)

First American Trust FSB acquired a new stake in The Cigna Group (NYSE:CI) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 16,192 shares of the health services provider’s stock, valued at approximately $4,471,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new position in The Cigna Group during the 4th quarter worth approximately $25,000. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter valued at about $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA acquired a new position in The Cigna Group during the 4th quarter worth approximately $37,000. Finally, Heck Capital Advisors LLC bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Morgan Stanley reduced their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. UBS Group reduced their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Barclays lowered their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Stephens reduced their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Finally, StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a research report on Wednesday, February 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average target price of $373.25.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Stock Performance

NYSE CI opened at $320.79 on Tuesday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap of $87.79 billion, a PE ratio of 26.21, a P/E/G ratio of 0.98 and a beta of 0.53. The firm has a 50-day moving average of $301.62 and a 200-day moving average of $314.45. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data 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 period in the prior year, the firm posted $6.79 EPS. On average, sell-side analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 1.88%. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

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.