Zions Bancorporation N.A. Raises Stake in The Cigna Group (NYSE:CI)

Zions Bancorporation N.A. lifted its stake in shares of The Cigna Group (NYSE:CI) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 943 shares of the health services provider’s stock after acquiring an additional 81 shares during the period. Zions Bancorporation N.A.’s holdings in The Cigna Group were worth $327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CI. Checchi Capital Advisers LLC lifted its stake in shares of The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after purchasing an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after buying an additional 31 shares during the last quarter. IFG Advisors LLC boosted its stake in The Cigna Group by 4.6% during the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock worth $242,000 after buying an additional 31 shares during the period. McClarren Financial Advisors Inc. increased its position in shares of The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after acquiring an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC lifted its holdings in shares of The Cigna Group by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 13.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Stephens reissued an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a research note on Friday, November 1st. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Barclays upped their target price on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Trading Down 0.7 %

CI opened at $321.53 on Friday. The business’s 50-day simple moving average is $339.52 and its 200-day simple moving average is $339.91. The company has a market cap of $89.43 billion, a P/E ratio of 30.33, a PEG ratio of 1.00 and a beta of 0.51. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. 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 Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same quarter in the prior year, the business posted $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

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.