AMG National Trust Bank Grows Stock Holdings in The Cigna Group (NYSE:CI)

AMG National Trust Bank increased its holdings in shares of The Cigna Group (NYSE:CI) by 5.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,072 shares of the health services provider’s stock after purchasing an additional 218 shares during the period. AMG National Trust Bank’s holdings in The Cigna Group were worth $1,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CI. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group during the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC raised its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the third quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in The Cigna Group in the 2nd quarter worth approximately $66,000. Finally, Private Ocean LLC grew its stake in shares of The Cigna Group by 29.9% during the 2nd quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after purchasing an additional 46 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

NYSE:CI opened at $322.40 on Tuesday. The company has a market cap of $89.68 billion, a P/E ratio of 30.42, a P/E/G ratio of 0.97 and a beta of 0.51. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The company’s 50-day moving average price is $338.17 and its 200-day moving average price is $339.27. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The business had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the company posted $6.77 EPS. On average, sell-side analysts forecast that The Cigna Group will post 28.5 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CI shares. Piper Sandler reiterated an “overweight” rating and issued a $394.00 target price (up from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. Royal Bank of Canada decreased their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Barclays raised their price objective on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $394.64.

The Cigna Group Company 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.