Huntington National Bank Has $2.62 Million Holdings in The Cigna Group (NYSE:CI)

Huntington National Bank grew its position in shares of The Cigna Group (NYSE:CI) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,558 shares of the health services provider’s stock after purchasing an additional 181 shares during the quarter. Huntington National Bank’s holdings in The Cigna Group were worth $2,618,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CI. Plato Investment Management Ltd raised its stake in The Cigna Group by 4.5% during the third quarter. Plato Investment Management Ltd now owns 14,727 shares of the health services provider’s stock worth $5,097,000 after buying an additional 637 shares during the last quarter. Schrum Private Wealth Management LLC raised its position in shares of The Cigna Group by 19.7% in the 3rd quarter. Schrum Private Wealth Management LLC now owns 758 shares of the health services provider’s stock worth $263,000 after acquiring an additional 125 shares in the last quarter. Haverford Trust Co lifted its stake in shares of The Cigna Group by 6.0% in the 3rd quarter. Haverford Trust Co now owns 2,408 shares of the health services provider’s stock valued at $834,000 after purchasing an additional 136 shares during the period. Aptus Capital Advisors LLC boosted its position in shares of The Cigna Group by 2.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 2,613 shares of the health services provider’s stock valued at $905,000 after purchasing an additional 64 shares in the last quarter. Finally, Aigen Investment Management LP boosted its position in shares of The Cigna Group by 147.1% during the 3rd quarter. Aigen Investment Management LP now owns 1,883 shares of the health services provider’s stock valued at $652,000 after purchasing an additional 1,121 shares in the last quarter. Institutional investors and hedge funds 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 sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 13.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler restated an “overweight” rating and issued a $394.00 price target (up from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Barclays upped their price objective on shares of The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Down 0.7 %

CI stock opened at $321.53 on Friday. The stock’s 50 day moving average is $339.52 and its 200-day moving average is $339.91. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83. The firm has a market capitalization of $89.43 billion, a PE ratio of 30.33, a P/E/G ratio of 1.00 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the business earned $6.77 EPS. The business’s revenue was up 29.8% on a year-over-year basis. Sell-side analysts expect that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.74%. The Cigna Group’s dividend payout ratio (DPR) is 52.83%.

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.