Webster Bank N. A. Cuts Stock Position in The Cigna Group (NYSE:CI)

Webster Bank N. A. cut its holdings in The Cigna Group (NYSE:CI) by 4.7% in the first quarter, Holdings Channel reports. The institutional investor owned 4,361 shares of the health services provider’s stock after selling 216 shares during the quarter. Webster Bank N. A.’s holdings in The Cigna Group were worth $1,584,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth approximately $29,000. VisionPoint Advisory Group LLC boosted its stake in The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Raleigh Capital Management Inc. boosted its stake in 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 worth $30,000 after buying an additional 41 shares during the last quarter. Pineridge Advisors LLC acquired a new position in The Cigna Group during the fourth quarter worth $37,000. Finally, Pacifica Partners Inc. lifted its stake in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after purchasing an additional 60 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock valued at $7,975,726 in the last three months. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Stock Down 1.1 %

NYSE CI traded down $3.58 during trading hours on Friday, hitting $330.57. 2,645,258 shares of the company were exchanged, compared to its average volume of 1,508,288. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The firm has a market cap of $93.91 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 1.02 and a beta of 0.53. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The company has a 50 day moving average of $341.23 and a two-hundred day moving average of $332.90.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the business posted $5.41 EPS. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analyst Ratings Changes

Several equities analysts have recently commented on CI shares. Barclays started coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target on the stock. JPMorgan Chase & Co. upped their price target on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, Robert W. Baird started coverage on The Cigna Group in a research note on Thursday, May 30th. They set an “outperform” rating and a $388.00 target price on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $376.20.

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.