Trust Co. of Oklahoma Grows Stake in The Cigna Group (NYSE:CI)

Trust Co. of Oklahoma grew its position in The Cigna Group (NYSE:CI) by 6.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 4,825 shares of the health services provider’s stock after buying an additional 307 shares during the period. Trust Co. of Oklahoma’s holdings in The Cigna Group were worth $1,672,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Asset Advisory Services LLC boosted its holdings in The Cigna Group by 2.3% in the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after purchasing an additional 29 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after acquiring an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in The Cigna Group by 10.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after buying an additional 32 shares during the period. Finally, Capital Investment Advisors LLC raised its holdings in The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after acquiring an additional 32 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by corporate insiders.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded down $1.95 on Tuesday, reaching $349.50. The company’s stock had a trading volume of 778,901 shares, compared to its average volume of 1,474,017. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The company has a market capitalization of $99.28 billion, a P/E ratio of 28.85, a PEG ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $349.32 and a 200-day moving average price of $344.56.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm had revenue of $60.52 billion for the quarter, compared to analyst estimates of $58.30 billion. During the same period last year, the company posted $6.13 EPS. The Cigna Group’s quarterly revenue was up 24.6% compared to the same quarter last year. Analysts expect that The Cigna Group will post 28.48 EPS for the current 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 1.60%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CI shares. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, October 1st. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. Piper Sandler initiated coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target on the stock. Barclays lifted their price target 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. 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 stock. Based on data from MarketBeat.com, The Cigna Group has a consensus rating of “Buy” and a consensus target price 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.