Trust Co. of Virginia VA Sells 118 Shares of The Cigna Group (NYSE:CI)

Trust Co. of Virginia VA lowered its position in The Cigna Group (NYSE:CI) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,265 shares of the health services provider’s stock after selling 118 shares during the period. Trust Co. of Virginia VA’s holdings in The Cigna Group were worth $1,549,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortitude Family Office LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC grew its position in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the last quarter. Raleigh Capital Management Inc. grew its position 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 buying an additional 41 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Pacifica Partners Inc. grew its position in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after buying an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Baird R W raised shares of The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. StockNews.com downgraded shares of The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 12th. Morgan Stanley reissued an “overweight” rating and set a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Barclays initiated coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. Finally, Oppenheimer upped their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $376.20.

Insiders Place Their Bets

In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the sale, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares of the company’s stock, valued at $904,902.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total transaction of $3,728,629.00. Following the sale, the insider now directly owns 15,824 shares in the company, valued at approximately $5,514,189.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,988 shares of company stock worth $7,975,726. Company insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

NYSE:CI traded down $3.58 during trading hours on Friday, reaching $330.57. 2,645,258 shares of the company were exchanged, compared to its average volume of 1,508,288. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The stock’s 50-day moving average is $341.23 and its 200-day moving average is $332.90. The firm has a market cap of $93.91 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.02 and a beta of 0.53. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping analysts’ consensus estimates of $6.17 by $0.30. The company had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $5.41 earnings per share. On average, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is presently 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.