M&T Bank Corp Sells 1,881 Shares of Cigna Group (NYSE:CI)

M&T Bank Corp trimmed its position in Cigna Group (NYSE:CI) by 3.5% during the first quarter, HoldingsChannel.com reports. The fund owned 51,488 shares of the health services provider’s stock after selling 1,881 shares during the quarter. M&T Bank Corp’s holdings in Cigna Group were worth $16,939,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Two Sigma Investments LP boosted its position in Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock valued at $211,219,000 after buying an additional 188,235 shares in the last quarter. Humankind Investments LLC boosted its position in Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock valued at $1,462,000 after buying an additional 571 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Cigna Group during the first quarter worth $123,000. First American Trust FSB acquired a new position in shares of Cigna Group during the fourth quarter worth $4,471,000. Finally, English Capital Management LLC lifted its holdings in shares of Cigna Group by 6.2% during the fourth quarter. English Capital Management LLC now owns 20,586 shares of the health services provider’s stock worth $5,685,000 after purchasing an additional 1,202 shares during the period. 86.99% of the stock is owned by institutional investors.

Cigna Group Trading Down 0.5%

NYSE:CI opened at $312.01 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a 50-day moving average of $318.80 and a 200-day moving average of $310.08. The company has a market cap of $83.35 billion, a PE ratio of 17.28, a PEG ratio of 0.93 and a beta of 0.44. Cigna Group has a one year low of $262.03 and a one year high of $370.83.

Cigna Group (NYSE:CI) last posted its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The company had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm posted $6.47 earnings per share. As a group, equities research analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s payout ratio is presently 33.44%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CI shares. Cantor Fitzgerald lifted their price target on shares of Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Piper Sandler lifted their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Mizuho lifted their target price on shares of Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Truist Financial lifted their target price on shares of Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Finally, TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $380.39.

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.