Webster Bank N. A. Has $1.58 Million Stake in The Cigna Group (NYSE:CI)

Webster Bank N. A. decreased its holdings in The Cigna Group (NYSE:CI) by 4.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,361 shares of the health services provider’s stock after selling 216 shares during the quarter. Webster Bank N. A.’s holdings in The Cigna Group were worth $1,584,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Norges Bank bought a new position in The Cigna Group in the 4th quarter valued at about $1,006,348,000. Cerity Partners LLC increased its holdings in The Cigna Group by 1,039.4% in the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock valued at $176,694,000 after buying an additional 538,274 shares during the period. Jennison Associates LLC increased its holdings in The Cigna Group by 127.3% in the 4th quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock valued at $169,558,000 after buying an additional 317,081 shares during the period. International Assets Investment Management LLC increased its holdings in The Cigna Group by 21,324.4% in the 4th quarter. International Assets Investment Management LLC now owns 285,801 shares of the health services provider’s stock valued at $85,583,000 after buying an additional 284,467 shares during the period. Finally, Assenagon Asset Management S.A. increased its holdings in The Cigna Group by 153.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 386,226 shares of the health services provider’s stock valued at $115,655,000 after buying an additional 233,945 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the sale, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Insiders have sold 22,988 shares of company stock worth $7,975,726 in the last quarter. Company insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 1.1 %

Shares of NYSE CI traded down $3.58 during midday trading on Friday, reaching $330.57. The stock had a trading volume of 2,645,258 shares, compared to its average volume of 1,508,288. The firm has a market cap of $93.91 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.02 and a beta of 0.53. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The company’s 50 day moving average price is $341.23 and its 200 day moving average price is $332.90.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.41 EPS. As a group, sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a dividend of $1.40 per share. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.69%. The Cigna Group’s payout ratio is presently 45.98%.

Analyst Ratings Changes

Several brokerages recently issued reports on CI. StockNews.com lowered shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 12th. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Robert W. Baird began coverage on shares of The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday. They set an “overweight” rating and a $400.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group presently has an average rating of “Buy” and an average target price of $376.20.

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.