Farmers Trust Co. Has $389,000 Stock Holdings in The Cigna Group (NYSE:CI)

Farmers Trust Co. trimmed its position in The Cigna Group (NYSE:CI) by 13.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,183 shares of the health services provider’s stock after selling 182 shares during the quarter. Farmers Trust Co.’s holdings in The Cigna Group were worth $389,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth approximately $25,000. Collier Financial bought a new position in The Cigna Group in the fourth quarter valued at approximately $32,000. Putney Financial Group LLC acquired a new stake in The Cigna Group during the 4th quarter worth $36,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the 4th quarter valued at $37,000. Finally, Transce3nd LLC acquired a new position in shares of The Cigna Group in the 4th quarter valued at $38,000. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling at The Cigna Group

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $1,511,020.48. Following the sale, the insider now owns 29,421 shares in the company, valued at approximately $9,065,198.52. This represents a 14.29% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of a number of analyst reports. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Morgan Stanley boosted their target price on The Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Robert W. Baird decreased their price objective on shares of The Cigna Group from $388.00 to $362.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $379.33.

The Cigna Group Stock Performance

CI opened at $311.83 on Friday. The company has a market capitalization of $83.30 billion, a price-to-earnings ratio of 25.48, a P/E/G ratio of 0.98 and a beta of 0.47. The business’s 50-day moving average price is $324.84 and its two-hundred day moving average price is $309.75. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The Cigna Group’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned $6.47 EPS. Equities analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group’s dividend payout ratio (DPR) is currently 33.44%.

The Cigna Group 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.