Cullen Frost Bankers Inc. Has $1.14 Million Holdings in The Cigna Group (NYSE:CI)

Cullen Frost Bankers Inc. decreased its position in shares of The Cigna Group (NYSE:CI) by 1.4% in the fourth quarter, Holdings Channel reports. The fund owned 3,796 shares of the health services provider’s stock after selling 52 shares during the period. Cullen Frost Bankers Inc.’s holdings in The Cigna Group were worth $1,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in CI. Bogart Wealth LLC increased its stake in The Cigna Group by 104.5% during the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 46 shares during the period. OFI Invest Asset Management bought a new stake in The Cigna Group in the third quarter valued at about $26,000. Fortitude Family Office LLC acquired a new stake in The Cigna Group during the fourth quarter valued at approximately $29,000. VisionPoint Advisory Group LLC lifted its position in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the period. Finally, Pacifica Partners Inc. boosted its stake in The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after buying an additional 60 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at approximately $123,618,339.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric P. Palmer sold 6,083 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the sale, the insider now directly owns 44,649 shares of the company’s stock, valued at approximately $15,180,660. The disclosure for this sale can be found here. Insiders sold 70,195 shares of company stock valued at $24,586,775 over the last quarter. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CI has been the subject of several research analyst reports. Barclays assumed coverage on The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price objective for the company. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and raised their target price for the stock from $355.00 to $370.00 in a report on Thursday, February 1st. Mizuho upped their price target on The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Monday, February 5th. Cantor Fitzgerald lifted their price objective on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $327.00 to $354.00 in a report on Monday, February 5th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $366.14.

The Cigna Group Price Performance

Shares of NYSE CI opened at $350.99 on Friday. The stock has a market capitalization of $99.71 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 1.04 and a beta of 0.57. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The business has a 50-day moving average of $351.14 and a 200-day moving average of $320.40. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the prior year, the firm earned $5.41 EPS. The business’s revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts predict that The Cigna Group will post 28.45 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is currently 45.98%.

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.