Stock Yards Bank & Trust Co. Takes $204,000 Position in The Cigna Group (NYSE:CI)

Stock Yards Bank & Trust Co. acquired a new stake in shares of The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 682 shares of the health services provider’s stock, valued at approximately $204,000.

Several other institutional investors also recently made changes to their positions in CI. Bogart Wealth LLC boosted its position in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the period. OFI Invest Asset Management purchased a new stake in The Cigna Group during the 3rd quarter worth $26,000. Fortitude Family Office LLC purchased a new stake in The Cigna Group during the 4th quarter worth $29,000. VisionPoint Advisory Group LLC boosted its position in The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the period. Finally, Pacifica Partners Inc. boosted its position in The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after purchasing an additional 60 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

CI opened at $352.27 on Thursday. The firm has a market cap of $102.99 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The company’s 50-day moving average price is $349.31 and its 200 day moving average price is $317.09. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The firm had revenue of $51.15 billion for 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 quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.96 earnings per share. As a group, sell-side analysts expect that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Analyst Ratings Changes

A number of analysts recently weighed in on CI shares. Deutsche Bank Aktiengesellschaft raised shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Wednesday, April 10th. Wells Fargo & Company upped their price objective on shares of The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Oppenheimer reissued an “outperform” rating and issued a $360.00 price objective on shares of The Cigna Group in a research report on Wednesday, January 17th. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $362.14.

Insider Buying and Selling

In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares in the company, valued at $110,394,985.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now owns 45,564 shares in the company, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock worth $39,296,330 over the last quarter. 0.60% of the stock is owned by company insiders.

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.