The Cigna Group (NYSE:CI) Shares Sold by Heartland Bank & Trust Co

Heartland Bank & Trust Co trimmed its holdings in The Cigna Group (NYSE:CI) by 6.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,667 shares of the health services provider’s stock after selling 113 shares during the period. Heartland Bank & Trust Co’s holdings in The Cigna Group were worth $578,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CI. Van ECK Associates Corp boosted its stake in The Cigna Group by 4.4% during the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after buying an additional 625 shares during the period. Hancock Whitney Corp boosted its stake in The Cigna Group by 75.6% during the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock worth $1,374,000 after buying an additional 1,629 shares during the period. ORG Partners LLC purchased a new position in The Cigna Group during the second quarter worth about $489,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in The Cigna Group by 21.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock worth $34,304,000 after buying an additional 16,846 shares during the period. Finally, Tidal Investments LLC boosted its stake in The Cigna Group by 36.0% during the first quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after buying an additional 4,043 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Jefferies Financial Group raised their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price objective on the stock. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $392.79.

The Cigna Group Stock Performance

NYSE:CI opened at $317.61 on Thursday. 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 has a fifty-two week low of $253.95 and a fifty-two week high of $370.83. The stock has a market cap of $90.22 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.05 and a beta of 0.50. The firm’s fifty day simple moving average is $349.85 and its 200-day simple moving average is $343.40.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same period in the prior year, the company posted $6.13 EPS. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. Analysts expect that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.76%. The Cigna Group’s payout ratio is 45.98%.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by corporate insiders.

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.