Parkside Financial Bank & Trust Increases Holdings in The Cigna Group (NYSE:CI)

Parkside Financial Bank & Trust lifted its position in The Cigna Group (NYSE:CI) by 7.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,343 shares of the health services provider’s stock after buying an additional 164 shares during the period. Parkside Financial Bank & Trust’s holdings in The Cigna Group were worth $702,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CI. Parnassus Investments LLC purchased a new stake in The Cigna Group during the third quarter worth $731,041,000. FMR LLC lifted its holdings in The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock worth $4,567,783,000 after buying an additional 1,939,554 shares during the period. Cerity Partners LLC lifted its holdings in The Cigna Group by 1,039.4% during the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after buying an additional 538,274 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in The Cigna Group by 3.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after buying an additional 345,605 shares during the period. Finally, Jennison Associates LLC lifted its holdings in The Cigna Group by 127.3% during the fourth quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after buying an additional 317,081 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI traded down $1.01 during midday trading on Tuesday, hitting $352.17. 509,001 shares of the company were exchanged, compared to its average volume of 1,585,228. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $102.96 billion, a price-to-earnings ratio of 20.31, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The company’s 50 day simple moving average is $348.73 and its 200 day simple moving average is $316.39.

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

The Cigna Group Increases Dividend

The firm also recently announced 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. The ex-dividend date was Tuesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.59%. The Cigna Group’s dividend payout ratio (DPR) is 32.20%.

Insider Activity

In related news, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $340.00, for a total value of $2,068,220.00. Following the transaction, the insider now directly owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David Cordani sold 31,209 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 in the last ninety days. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $327.00 to $354.00 in a report on Monday, February 5th. Wells Fargo & Company upped their target price on 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. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 14th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and upped their target price for the company from $355.00 to $370.00 in a research report on Thursday, February 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Two research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $362.14.

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.