Parkside Financial Bank & Trust Sells 96 Shares of The Cigna Group (NYSE:CI)

Parkside Financial Bank & Trust trimmed its position in shares of The Cigna Group (NYSE:CI) by 3.8% during the 4th quarter, HoldingsChannel reports. The fund owned 2,427 shares of the health services provider’s stock after selling 96 shares during the quarter. Parkside Financial Bank & Trust’s holdings in The Cigna Group were worth $670,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $34,000. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $37,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $37,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $45,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Up 1.9 %

NYSE:CI opened at $308.66 on Friday. The stock’s fifty day moving average price is $289.54 and its two-hundred day moving average price is $318.73. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The company has a market cap of $85.85 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the company posted $6.79 EPS. On average, analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 49.35%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CI. Barclays lowered their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Truist Financial lowered their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. StockNews.com upgraded The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Royal Bank of Canada set a $355.00 target price on The Cigna Group in a report on Friday, January 31st. Finally, Piper Sandler reissued an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $372.31.

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.