Fifth Third Bancorp Reduces Position in The Cigna Group (NYSE:CI)

Fifth Third Bancorp trimmed its holdings in shares of The Cigna Group (NYSE:CIFree Report) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,760 shares of the health services provider’s stock after selling 1,160 shares during the quarter. Fifth Third Bancorp’s holdings in The Cigna Group were worth $8,313,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CI. FMR LLC grew its holdings in shares of The Cigna Group by 13.8% during the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after purchasing an additional 1,939,554 shares during the last quarter. State Street Corp lifted its position in The Cigna Group by 1.0% in the second quarter. State Street Corp now owns 13,881,798 shares of the health services provider’s stock worth $3,895,233,000 after purchasing an additional 137,812 shares during the period. Moneta Group Investment Advisors LLC lifted its position in The Cigna Group by 154,255.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,954,841 shares of the health services provider’s stock worth $3,961,117,000 after purchasing an additional 11,947,096 shares during the period. Massachusetts Financial Services Co. MA lifted its position in The Cigna Group by 3.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after purchasing an additional 345,605 shares during the period. Finally, Morgan Stanley lifted its position in The Cigna Group by 4.7% in the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock worth $1,422,657,000 after purchasing an additional 225,115 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CI. Cantor Fitzgerald reiterated an “overweight” rating and set a $372.00 price objective on shares of The Cigna Group in a research report on Monday, March 4th. Wells Fargo & Company increased their price objective on The Cigna Group from $334.00 to $348.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 6th. Royal Bank of Canada upgraded The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Mizuho increased their price objective on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Jefferies Financial Group upgraded The Cigna Group from a “hold” rating to a “buy” rating and increased their price objective for the company from $335.00 to $341.00 in a research report on Monday, December 11th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $361.29.

Get Our Latest Analysis on The Cigna Group

Insiders Place Their Bets

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the sale, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.22, for a total value of $12,760,149.30. Following the sale, the chief executive officer now owns 329,321 shares of the company’s stock, valued at approximately $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold a total of 114,144 shares of company stock valued at $39,296,330 in the last three months. Insiders own 0.60% of the company’s stock.

The Cigna Group Stock Down 0.0 %

NYSE:CI opened at $363.19 on Monday. The firm has a market capitalization of $106.18 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 1.11 and a beta of 0.55. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The business’s fifty day moving average price is $335.56 and its 200 day moving average price is $308.56.

The Cigna Group (NYSE:CIGet Free Report) last issued its earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion for the quarter, compared to analyst estimates of $48.91 billion. During the same period in the prior year, the firm posted $4.96 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts forecast that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were given a $1.40 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s dividend payout ratio is presently 32.20%.

The Cigna Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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