Wesbanco Bank Inc. Trims Stock Holdings in The Cigna Group (NYSE:CI)

Wesbanco Bank Inc. lowered its position in shares of The Cigna Group (NYSE:CI) by 20.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,606 shares of the health services provider’s stock after selling 1,471 shares during the quarter. Wesbanco Bank Inc.’s holdings in The Cigna Group were worth $1,853,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Csenge Advisory Group boosted its position in shares of The Cigna Group by 13.6% in the 2nd quarter. Csenge Advisory Group now owns 1,224 shares of the health services provider’s stock worth $404,000 after purchasing an additional 147 shares in the last quarter. Indiana Trust & Investment Management CO boosted its holdings in The Cigna Group by 11.1% in the second quarter. Indiana Trust & Investment Management CO now owns 439 shares of the health services provider’s stock worth $145,000 after acquiring an additional 44 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in The Cigna Group by 252.1% in the second quarter. Fortitude Family Office LLC now owns 338 shares of the health services provider’s stock worth $112,000 after acquiring an additional 242 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in shares of The Cigna Group in the second quarter worth $393,000. Finally, Linden Thomas Advisory Services LLC increased its holdings in shares of The Cigna Group by 49.3% during the second quarter. Linden Thomas Advisory Services LLC now owns 1,287 shares of the health services provider’s stock valued at $425,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Elder Granger sold 547 shares of The Cigna Group stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Trading Up 1.8 %

CI stock opened at $335.00 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $365.71. The business has a 50 day simple moving average of $335.59 and a two-hundred day simple moving average of $339.37. The company has a market capitalization of $95.16 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.02 and a beta of 0.52.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The business had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. During the same quarter in the previous year, the company earned $6.13 EPS. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts anticipate that The Cigna Group will post 28.4 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be given a dividend of $1.40 per share. The ex-dividend date is Wednesday, September 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.67%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.98%.

Analyst Upgrades and Downgrades

CI has been the subject of several analyst reports. Stephens reissued an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Piper Sandler initiated coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Finally, Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $384.64.

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.