Synovus Financial Corp Sells 367 Shares of The Cigna Group (NYSE:CI)

Synovus Financial Corp cut its holdings in shares of The Cigna Group (NYSE:CI) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,627 shares of the health services provider’s stock after selling 367 shares during the period. Synovus Financial Corp’s holdings in The Cigna Group were worth $1,831,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in shares of The Cigna Group in the fourth quarter worth approximately $25,000. Collier Financial bought a new stake in The Cigna Group during the fourth quarter worth $32,000. ORG Wealth Partners LLC purchased a new stake in The Cigna Group in the 4th quarter valued at $34,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group during the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC purchased a new position in The Cigna Group during the 4th quarter worth $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $328.44 on Wednesday. The business’s fifty day moving average is $313.58 and its 200 day moving average is $311.06. The firm has a market cap of $89.89 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 0.98 and a beta of 0.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results 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 EPS. Research analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analysts Forecast Growth

CI has been the subject of several analyst reports. Truist Financial increased their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a report on Friday, April 11th. UBS Group dropped their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Wells Fargo & Company reduced their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Raymond James reiterated a “strong-buy” rating and set a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price objective on The Cigna Group in a research note on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $373.56.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is owned by corporate insiders.

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.