Central Pacific Bank Trust Division Sells 4,396 Shares of The Cigna Group (NYSE:CI)

Central Pacific Bank Trust Division lessened its holdings in The Cigna Group (NYSE:CI) by 56.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,405 shares of the health services provider’s stock after selling 4,396 shares during the period. Central Pacific Bank Trust Division’s holdings in The Cigna Group were worth $940,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Foundations Investment Advisors LLC grew its stake in shares of The Cigna Group by 70.9% in the second quarter. Foundations Investment Advisors LLC now owns 1,381 shares of the health services provider’s stock worth $456,000 after purchasing an additional 573 shares during the last quarter. Foster & Motley Inc. grew its position in shares of The Cigna Group by 18.4% in the 2nd quarter. Foster & Motley Inc. now owns 5,447 shares of the health services provider’s stock worth $1,801,000 after buying an additional 845 shares during the last quarter. Horizon Investment Services LLC increased its stake in shares of The Cigna Group by 17.3% during the second quarter. Horizon Investment Services LLC now owns 7,406 shares of the health services provider’s stock valued at $2,448,000 after buying an additional 1,092 shares during the period. Victory Capital Management Inc. raised its holdings in shares of The Cigna Group by 9.4% during the second quarter. Victory Capital Management Inc. now owns 505,006 shares of the health services provider’s stock valued at $166,940,000 after acquiring an additional 43,476 shares in the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in The Cigna Group in the second quarter worth $596,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Up 2.3 %

NYSE:CI opened at $280.70 on Friday. 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 firm has a market cap of $78.08 billion, a P/E ratio of 26.48, a P/E/G ratio of 0.88 and a beta of 0.50. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a 50-day simple moving average of $308.92 and a two-hundred day simple moving average of $330.94.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 earnings per share. Analysts predict that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Wednesday, December 4th were given a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 4th. This represents a $5.60 annualized dividend and a dividend yield of 2.00%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CI. Piper Sandler reissued an “overweight” rating and set a $394.00 price objective (up from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Jefferies Financial Group increased their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft cut their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $394.64.

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.