M&T Bank Corp Has $14.74 Million Holdings in The Cigna Group (NYSE:CI)

M&T Bank Corp decreased its holdings in The Cigna Group (NYSE:CI) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,369 shares of the health services provider’s stock after selling 762 shares during the period. M&T Bank Corp’s holdings in The Cigna Group were worth $14,737,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Cookson Peirce & Co. Inc. increased its holdings in shares of The Cigna Group by 3.7% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,478 shares of the health services provider’s stock valued at $684,000 after purchasing an additional 88 shares during the period. Victory Capital Management Inc. increased its holdings in shares of The Cigna Group by 9.9% in the 4th quarter. Victory Capital Management Inc. now owns 544,268 shares of the health services provider’s stock valued at $150,294,000 after purchasing an additional 48,865 shares during the period. Exencial Wealth Advisors LLC increased its holdings in The Cigna Group by 2.3% in the fourth quarter. Exencial Wealth Advisors LLC now owns 6,605 shares of the health services provider’s stock worth $1,824,000 after buying an additional 148 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in The Cigna Group by 231.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 8,245 shares of the health services provider’s stock worth $2,269,000 after buying an additional 5,758 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in The Cigna Group by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider’s stock worth $546,138,000 after buying an additional 64,138 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 other The Cigna Group news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Nicole S. Jones sold 4,904 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares of the company’s stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays dropped their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Truist Financial decreased their target price on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Up 0.3 %

CI opened at $309.84 on Thursday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $86.18 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 0.98 and a beta of 0.54. The business has a 50 day moving average of $291.31 and a 200-day moving average of $318.05.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the firm earned $6.79 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.95%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.