The Cigna Group (NYSE:CI) Shares Purchased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its position in The Cigna Group (NYSE:CI) by 7.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,343 shares of the health services provider’s stock after purchasing an additional 164 shares during the quarter. Parkside Financial Bank & Trust’s holdings in The Cigna Group were worth $702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of CI. Bogart Wealth LLC increased its position in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in The Cigna Group during the 3rd quarter worth $26,000. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group in the 4th quarter worth $29,000. VisionPoint Advisory Group LLC lifted its stake in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares during the period. 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 worth $43,000 after acquiring an additional 60 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,144 shares of company stock worth $39,296,330. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock traded down $1.01 during trading hours on Tuesday, reaching $352.17. The stock had a trading volume of 509,001 shares, compared to its average volume of 1,585,228. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The firm has a 50-day simple moving average of $348.73 and a 200-day simple moving average of $316.39. The firm has a market capitalization of $102.96 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The firm had revenue of $51.15 billion during the quarter, compared to analyst estimates of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The Cigna Group’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.96 EPS. As a group, equities analysts forecast that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were given a dividend of $1.40 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 annualized dividend and a dividend yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Morgan Stanley restated an “overweight” rating and set a $392.00 target price (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and upped their target price for the company from $330.00 to $372.00 in a research note on Thursday, January 4th. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $327.00 to $354.00 in a research note on Monday, February 5th. Wells Fargo & Company upped their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 6th. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Two investment analysts have rated the stock with a hold rating, ten 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 presently has a consensus rating of “Buy” and an average target price of $362.14.

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.