Trust Co. of Oklahoma Increases Stock Holdings in The Cigna Group (NYSE:CI)

Trust Co. of Oklahoma increased its stake in shares of The Cigna Group (NYSE:CI) by 6.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 4,825 shares of the health services provider’s stock after purchasing an additional 307 shares during the quarter. Trust Co. of Oklahoma’s holdings in The Cigna Group were worth $1,672,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Silicon Valley Capital Partners grew its position in The Cigna Group by 100.0% in the 1st quarter. Silicon Valley Capital Partners now owns 70 shares of the health services provider’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the 1st quarter valued at about $29,000. TruNorth Capital Management LLC purchased a new position in The Cigna Group in the 2nd quarter valued at about $33,000. Ulland Investment Advisors LLC boosted its stake in shares of The Cigna Group by 2,500.0% during the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Rise Advisors LLC acquired a new stake in The Cigna Group during the first quarter worth approximately $59,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

CI traded down $1.95 during trading on Tuesday, reaching $349.50. 778,901 shares of the company were exchanged, compared to its average volume of 1,474,017. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $349.32 and a 200 day moving average of $344.56. The stock has a market cap of $99.28 billion, a P/E ratio of 28.85, a PEG ratio of 1.05 and a beta of 0.50.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The firm had revenue of $60.52 billion during the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.13 EPS. On average, sell-side analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend was Wednesday, September 4th. The Cigna Group’s payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price target on shares of The Cigna Group in a research report on Monday, September 9th. Stephens reissued an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research report on Friday, August 2nd. Piper Sandler started coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $392.79.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

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.