Trust Asset Management LLC Sells 314 Shares of Cigna Group (NYSE:CI)

Trust Asset Management LLC trimmed its holdings in Cigna Group (NYSE:CI) by 8.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,211 shares of the health services provider’s stock after selling 314 shares during the period. Trust Asset Management LLC’s holdings in Cigna Group were worth $1,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Two Sigma Investments LP increased its stake in Cigna Group by 32.6% in the 4th 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 during the last quarter. Humankind Investments LLC increased its position in Cigna Group by 12.1% during the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after buying an additional 571 shares during the period. NBC Securities Inc. acquired a new position in shares of Cigna Group during the 1st quarter worth approximately $123,000. SBI Securities Co. Ltd. increased its stake in Cigna Group by 18.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider’s stock worth $131,000 after acquiring an additional 63 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in Cigna Group by 2.4% in the first quarter. Commonwealth Equity Services LLC now owns 113,584 shares of the health services provider’s stock valued at $37,369,000 after purchasing an additional 2,614 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Cigna Group in a report on Monday, May 5th. Robert W. Baird reduced their price objective on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley raised their price target on shares of Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Wall Street Zen lowered Cigna Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Guggenheim restated a “buy” rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $377.72.

Cigna Group Price Performance

Shares of NYSE:CI opened at $275.03 on Monday. The company has a market capitalization of $73.41 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 0.81 and a beta of 0.47. The company’s 50-day moving average is $304.57 and its 200 day moving average is $311.72. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $370.83.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the previous year, the firm posted $6.72 earnings per share. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. On average, equities research analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.

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.