Norway Savings Bank Sells 325 Shares of The Cigna Group (NYSE:CI)

Norway Savings Bank lessened its position in shares of The Cigna Group (NYSE:CI) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,175 shares of the health services provider’s stock after selling 325 shares during the period. Norway Savings Bank’s holdings in The Cigna Group were worth $877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CI. Marks Group Wealth Management Inc increased its position in The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Principal Financial Group Inc. increased its holdings in The Cigna Group by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Trinity Street Asset Management LLP raised its position in The Cigna Group by 7.1% in the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock valued at $28,204,000 after purchasing an additional 5,397 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in shares of The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in The Cigna Group by 6.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 105,479 shares of the health services provider’s stock worth $36,542,000 after buying an additional 6,585 shares during the period. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.3 %

Shares of NYSE CI traded down $0.75 during midday trading on Tuesday, hitting $278.91. 572,174 shares of the stock traded hands, compared to its average volume of 1,067,337. The Cigna Group has a one year low of $262.03 and a one year high of $370.83. The business has a 50 day moving average price of $307.49 and a two-hundred day moving average price of $330.10. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $77.58 billion, a PE ratio of 26.31, a P/E/G ratio of 0.88 and a beta of 0.54.

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

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.01%. The Cigna Group’s payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CI. Barclays lifted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Truist Financial decreased their price target on The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler reaffirmed an “overweight” rating and issued a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One equities 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 company’s stock. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and an average target price of $395.93.

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.