NBC Securities Inc. Lowers Position in The Cigna Group (NYSE:CI)

NBC Securities Inc. lessened its position in The Cigna Group (NYSE:CI) by 13.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 300 shares of the health services provider’s stock after selling 47 shares during the quarter. NBC Securities Inc.’s holdings in The Cigna Group were worth $118,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Somerset Trust Co raised its stake in The Cigna Group by 1.6% during the first quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock valued at $802,000 after buying an additional 34 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its stake in The Cigna Group by 30.0% during the first quarter. Canandaigua National Bank & Trust Co. now owns 8,870 shares of the health services provider’s stock valued at $3,221,000 after buying an additional 2,046 shares during the last quarter. Kapitalo Investimentos Ltda raised its stake in The Cigna Group by 3.8% during the fourth quarter. Kapitalo Investimentos Ltda now owns 1,122 shares of the health services provider’s stock valued at $336,000 after buying an additional 41 shares during the last quarter. HighPoint Advisor Group LLC purchased a new position in The Cigna Group during the fourth quarter valued at $1,723,000. Finally, Leo Wealth LLC purchased a new position in The Cigna Group during the fourth quarter valued at $625,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Transactions at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s 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 completion of the transaction, the senior vice president now owns 2,595 shares of the company’s stock, valued at $904,902.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares of the company’s stock, valued at $904,902.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction that occurred on 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 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. Insiders sold a total of 18,193 shares of company stock valued at $6,321,404 over the last 90 days. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CI. Baird R W raised The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, June 12th. Morgan Stanley reissued an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Robert W. Baird began coverage on The Cigna Group in a report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Finally, Oppenheimer lifted their target price on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $374.50.

The Cigna Group Stock Performance

Shares of CI opened at $339.98 on Monday. 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 business has a 50-day simple moving average of $342.40 and a two-hundred day simple moving average of $331.50. The stock has a market cap of $96.58 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 1.03 and a beta of 0.53. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.41 earnings per share. On average, analysts expect that The Cigna Group will post 28.47 EPS 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 paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

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.