Heartland Bank & Trust Co Buys Shares of 1,780 The Cigna Group (NYSE:CI)

Heartland Bank & Trust Co purchased a new position in shares of The Cigna Group (NYSE:CI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,780 shares of the health services provider’s stock, valued at approximately $588,000.

Other institutional investors have also recently made changes to their positions in the company. Silicon Valley Capital Partners boosted its stake in The Cigna Group by 100.0% during the first quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock worth $25,000 after buying an additional 35 shares during the period. Cedar Wealth Management LLC purchased a new stake in shares of The Cigna Group in the 1st quarter valued at approximately $29,000. Raleigh Capital Management Inc. lifted its holdings in shares of The Cigna Group by 69.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group during the 2nd quarter worth approximately $33,000. Finally, Pineridge Advisors LLC acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.4 %

The Cigna Group stock opened at $346.44 on Tuesday. The stock has a market cap of $98.41 billion, a PE ratio of 28.44, a P/E/G ratio of 1.08 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The stock’s fifty day moving average is $348.38 and its two-hundred day moving average is $345.28. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The business had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company earned $6.13 EPS. On average, sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.62%. The Cigna Group’s dividend payout ratio is presently 45.98%.

Insider Activity

In related news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares in the company, valued at approximately $6,010,264.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of a number of research reports. Piper Sandler initiated coverage on The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a report on Monday, September 16th. Barclays raised their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Jefferies Financial Group upped their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and an average price target of $392.79.

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.