City Holding Co. Raises Holdings in The Cigna Group (NYSE:CI)

City Holding Co. boosted its stake in shares of The Cigna Group (NYSE:CI) by 28.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,889 shares of the health services provider’s stock after buying an additional 645 shares during the period. City Holding Co.’s holdings in The Cigna Group were worth $1,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in The Cigna Group during the fourth quarter worth $29,000. Raleigh Capital Management Inc. boosted its stake in The Cigna Group by 69.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after buying an additional 41 shares during the last quarter. VisionPoint Advisory Group LLC boosted its stake in The Cigna Group by 112.2% during the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Pineridge Advisors LLC acquired a new position in The Cigna Group during the fourth quarter worth $37,000. Finally, Pacifica Partners Inc. boosted its stake in The Cigna Group by 73.2% during the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value 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 document filed with the SEC, which is available at this hyperlink. In related news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares in the company, valued at approximately $1,812,979.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,193 shares of company stock worth $6,321,404. 0.60% of the stock is currently owned by insiders.

The Cigna Group Stock Up 1.0 %

NYSE CI traded up $3.31 during trading hours on Monday, hitting $343.29. 125,520 shares of the company were exchanged, compared to its average volume of 1,611,532. The company has a 50 day moving average of $342.40 and a two-hundred day moving average of $331.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $365.71. The firm has a market cap of $97.52 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.03 and a beta of 0.53.

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 for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The company had revenue of $57.25 billion for the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the prior year, the business earned $5.41 EPS. The Cigna Group’s revenue was up 23.2% on a year-over-year basis. Equities research analysts anticipate that The Cigna Group will post 28.47 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a $1.40 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.63%. The Cigna Group’s payout ratio is currently 45.98%.

Analyst Ratings Changes

A number of research firms have weighed in on CI. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Barclays began coverage on The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target on the stock. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Oppenheimer upped their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $374.50.

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.