Eastern Bank Sells 265 Shares of The Cigna Group (NYSE:CI)

Eastern Bank reduced its stake in The Cigna Group (NYSE:CI) by 16.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,308 shares of the health services provider’s stock after selling 265 shares during the quarter. Eastern Bank’s holdings in The Cigna Group were worth $361,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Wedmont Private Capital lifted its holdings in The Cigna Group by 8.7% during the fourth quarter. Wedmont Private Capital now owns 4,664 shares of the health services provider’s stock worth $1,301,000 after acquiring an additional 373 shares during the period. Trust Co. of Toledo NA OH boosted its holdings in shares of The Cigna Group by 6.2% in the 4th quarter. Trust Co. of Toledo NA OH now owns 1,032 shares of the health services provider’s stock worth $285,000 after buying an additional 60 shares during the last quarter. Fiduciary Alliance LLC purchased a new position in shares of The Cigna Group in the 4th quarter worth about $252,000. Winthrop Advisory Group LLC increased its holdings in The Cigna Group by 2.9% during the fourth quarter. Winthrop Advisory Group LLC now owns 3,501 shares of the health services provider’s stock worth $967,000 after buying an additional 99 shares during the last quarter. Finally, Clark & Stuart Inc bought a new stake in The Cigna Group in the fourth quarter worth about $229,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

NYSE:CI opened at $284.95 on Wednesday. The firm has a market capitalization of $79.26 billion, a price-to-earnings ratio of 26.88, a P/E/G ratio of 0.88 and a beta of 0.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average of $303.49 and a 200 day moving average of $327.70. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

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

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 52.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CI shares. Stephens restated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada cut their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $395.93.

About The 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.