Stock Yards Bank & Trust Co. Takes Position in Cigna Group $CI

Stock Yards Bank & Trust Co. bought a new position in shares of Cigna Group (NYSE:CI) in the second quarter, HoldingsChannel reports. The firm bought 839 shares of the health services provider’s stock, valued at approximately $277,000.

A number of other hedge funds also recently bought and sold shares of CI. Nuveen LLC purchased a new position in shares of Cigna Group during the first quarter valued at approximately $727,905,000. Price T Rowe Associates Inc. MD boosted its holdings in Cigna Group by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after acquiring an additional 1,094,327 shares in the last quarter. GQG Partners LLC increased its position in Cigna Group by 21.5% during the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock valued at $1,607,716,000 after purchasing an additional 865,092 shares during the period. Goldman Sachs Group Inc. raised its holdings in Cigna Group by 38.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider’s stock worth $542,796,000 after purchasing an additional 457,052 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in Cigna Group by 163.2% in the 1st quarter. Bank of Nova Scotia now owns 333,435 shares of the health services provider’s stock worth $109,700,000 after purchasing an additional 206,739 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CI shares. Wells Fargo & Company cut their target price on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 14th. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Wall Street Zen lowered Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday. Guggenheim restated a “buy” rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the stock a “buy” rating in a report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Cigna Group presently has an average rating of “Moderate Buy” and a consensus target price of $371.81.

Cigna Group Stock Performance

Cigna Group stock opened at $311.24 on Monday. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $83.08 billion, a P/E ratio of 16.99, a PEG ratio of 0.91 and a beta of 0.45. The stock’s 50 day moving average is $292.41 and its 200 day moving average is $309.65.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The business had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. During the same quarter in the previous year, the business earned $6.72 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities research analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group’s dividend payout ratio is 32.97%.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, the insider directly owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

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.