Moody National Bank Trust Division Cuts Stock Position in The Cigna Group (NYSE:CI)

Moody National Bank Trust Division cut its holdings in shares of The Cigna Group (NYSE:CI) by 4.2% in the 4th quarter, HoldingsChannel reports. The firm owned 4,553 shares of the health services provider’s stock after selling 200 shares during the quarter. Moody National Bank Trust Division’s holdings in The Cigna Group were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in shares of The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after buying an additional 600,215 shares during the period. Ameriprise Financial Inc. increased its holdings in The Cigna Group by 23.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after acquiring an additional 405,694 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in The Cigna Group by 145.3% during the second quarter. The Manufacturers Life Insurance Company now owns 683,361 shares of the health services provider’s stock valued at $225,899,000 after purchasing an additional 404,791 shares during the last quarter. International Assets Investment Management LLC boosted its position in The Cigna Group by 49,287.7% during the third quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider’s stock worth $138,590,000 after purchasing an additional 399,230 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of The Cigna Group by 526.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 363,537 shares of the health services provider’s stock valued at $120,174,000 after purchasing an additional 305,490 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CI. Stephens reissued an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. Barclays raised their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, StockNews.com cut shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $395.93.

The Cigna Group Stock Up 0.9 %

NYSE:CI opened at $281.54 on Tuesday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The firm’s 50-day moving average price is $304.16 and its 200-day moving average price is $328.02. The company has a market capitalization of $78.31 billion, a PE ratio of 26.56, a P/E/G ratio of 0.88 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.77 EPS. On average, equities analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.99%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio is presently 52.83%.

The Cigna Group Company 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.