Keybank National Association OH Reduces Stock Holdings in Cigna Group $CI

Keybank National Association OH lowered its stake in shares of Cigna Group (NYSE:CI) by 0.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 132,298 shares of the health services provider’s stock after selling 92 shares during the quarter. Keybank National Association OH’s holdings in Cigna Group were worth $43,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after acquiring an additional 318 shares during the last quarter. Sovran Advisors LLC purchased a new position in shares of Cigna Group during the first quarter worth about $214,000. Ameritas Advisory Services LLC acquired a new stake in shares of Cigna Group during the first quarter worth about $907,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Cigna Group by 5.0% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 36,869 shares of the health services provider’s stock valued at $12,130,000 after purchasing an additional 1,751 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its position in shares of Cigna Group by 11.3% in the 1st quarter. DAVENPORT & Co LLC now owns 5,774 shares of the health services provider’s stock valued at $1,896,000 after purchasing an additional 588 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Wall Street Zen lowered shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Guggenheim reaffirmed a “buy” rating and issued a $350.00 target price (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cigna Group in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price objective on shares of Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Cigna Group currently has an average rating of “Moderate Buy” and an average target price of $369.89.

Insider Buying and Selling at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the sale, the insider owned 51,182 shares of the company’s stock, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the transaction, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is currently owned by company insiders.

Cigna Group Trading Down 3.0%

NYSE:CI opened at $299.19 on Thursday. Cigna Group has a 12-month low of $256.89 and a 12-month high of $350.00. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock’s 50 day simple moving average is $299.46 and its 200-day simple moving average is $307.12. The firm has a market cap of $79.86 billion, a P/E ratio of 16.33, a PEG ratio of 0.90 and a beta of 0.45.

Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same period last year, the company earned $6.72 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Equities analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 4th. Cigna Group’s dividend payout ratio (DPR) is 32.97%.

About Cigna Group

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.