Stock Yards Bank & Trust Co. Makes New $204,000 Investment in The Cigna Group (NYSE:CI)

Stock Yards Bank & Trust Co. bought a new position in The Cigna Group (NYSE:CI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 682 shares of the health services provider’s stock, valued at approximately $204,000.

A number of other institutional investors also recently modified their holdings of CI. Parnassus Investments LLC bought a new position in shares of The Cigna Group in the third quarter worth about $731,041,000. FMR LLC raised its stake 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 worth $4,567,783,000 after buying an additional 1,939,554 shares during the last quarter. Cerity Partners LLC raised its stake in shares of The Cigna Group by 1,039.4% during the fourth quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after buying an additional 538,274 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of The Cigna Group by 3.0% during 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 buying an additional 345,605 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of The Cigna Group by 127.3% during the fourth quarter. Jennison Associates LLC now owns 566,233 shares of the health services provider’s stock worth $169,558,000 after buying an additional 317,081 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Down 0.1 %

The Cigna Group stock opened at $352.27 on Thursday. The stock has a market capitalization of $102.99 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $349.31 and a 200-day moving average of $317.09.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, beating the consensus estimate of $6.54 by $0.25. The company had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.96 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.59%. The Cigna Group’s payout ratio is 32.20%.

Insider Buying and Selling

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the completion of the transaction, the senior vice president now owns 2,102 shares in the company, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other The Cigna Group news, CEO David Cordani sold 38,065 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares of the company’s stock, valued at $110,394,985.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 2,102 shares in the company, valued at $694,668.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,144 shares of company stock worth $39,296,330. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

CI has been the subject of a number of recent research reports. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $327.00 to $354.00 in a research note on Monday, February 5th. Wells Fargo & Company boosted their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Mizuho boosted their price target on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $362.14.

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.