Burke & Herbert Bank & Trust Co. Cuts Stock Holdings in The Cigna Group (NYSE:CI)

Burke & Herbert Bank & Trust Co. trimmed its stake in shares of The Cigna Group (NYSE:CI) by 10.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,087 shares of the health services provider’s stock after selling 616 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in The Cigna Group were worth $1,405,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CI. AMF Tjanstepension AB lifted its position in The Cigna Group by 18.6% during the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock valued at $25,511,000 after purchasing an additional 11,550 shares during the last quarter. Creative Planning lifted its position in The Cigna Group by 7.2% during the third quarter. Creative Planning now owns 59,655 shares of the health services provider’s stock valued at $20,667,000 after purchasing an additional 3,994 shares during the last quarter. Swedbank AB lifted its position in The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock valued at $197,569,000 after purchasing an additional 119,681 shares during the last quarter. Global Retirement Partners LLC lifted its position in The Cigna Group by 2.0% during the third quarter. Global Retirement Partners LLC now owns 3,201 shares of the health services provider’s stock valued at $1,109,000 after purchasing an additional 62 shares during the last quarter. Finally, Inspire Advisors LLC lifted its position in The Cigna Group by 7.5% during the third quarter. Inspire Advisors LLC now owns 687 shares of the health services provider’s stock valued at $238,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI opened at $292.12 on Monday. The firm has a fifty day moving average price of $286.46 and a 200 day moving average price of $320.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The stock has a market cap of $81.25 billion, a P/E ratio of 23.87, a P/E/G ratio of 0.94 and a beta of 0.54. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the firm posted $6.79 EPS. Equities research analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.07%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is presently 45.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Cantor Fitzgerald cut their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $373.69.

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.