Canandaigua National Bank & Trust Co. Trims Stake in The Cigna Group (NYSE:CI)

Canandaigua National Bank & Trust Co. reduced its position in shares of The Cigna Group (NYSE:CI) by 38.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,168 shares of the health services provider’s stock after selling 3,249 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in The Cigna Group were worth $1,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CI. Silicon Valley Capital Partners boosted its position in The Cigna Group by 100.0% during the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in The Cigna Group during the 1st quarter valued at $29,000. Raleigh Capital Management Inc. boosted its position in The Cigna Group by 69.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 41 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in The Cigna Group during the 2nd quarter valued at $33,000. Finally, Pineridge Advisors LLC bought a new stake in The Cigna Group during the 4th quarter valued at $37,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded up $1.14 on Friday, hitting $341.70. The company’s stock had a trading volume of 720,032 shares, compared to its average volume of 1,495,753. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The firm has a fifty day moving average price of $348.53 and a 200-day moving average price of $345.11. The company has a market capitalization of $97.07 billion, a price-to-earnings ratio of 28.04, a price-to-earnings-growth ratio of 1.08 and a beta of 0.50.

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

The Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CI. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Piper Sandler began coverage on The Cigna Group in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Jefferies Financial Group lifted their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $392.79.

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.