The Cigna Group (NYSE:CI) Shares Purchased by CIBC Asset Management Inc

by · The Cerbat Gem

CIBC Asset Management Inc raised its position in The Cigna Group (NYSE:CI – Free Report) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,432 shares of the health services provider’s stock after purchasing an additional 2,858 shares during the quarter. CIBC Asset Management Inc’s holdings in The Cigna Group were worth $14,354,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CI. Van ECK Associates Corp lifted its stake in The Cigna Group by 4.4% during the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock worth $4,916,000 after acquiring an additional 625 shares in the last quarter. Marks Group Wealth Management Inc lifted its position in shares of The Cigna Group by 3,669.7% during the third quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares in the last quarter. Hancock Whitney Corp boosted its stake in shares of The Cigna Group by 75.6% in the first quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares during the period. ORG Partners LLC acquired a new position in shares of The Cigna Group in the second quarter valued at approximately $489,000. Finally, Tidal Investments LLC increased its stake in The Cigna Group by 36.0% during the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock worth $5,548,000 after buying an additional 4,043 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The trade was a 13.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

The Cigna Group Trading Down 0.7 %

CI opened at $321.53 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The business’s 50 day moving average is $339.52 and its two-hundred day moving average is $339.91. The firm has a market cap of $89.43 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI – Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion for the quarter, compared to analysts’ expectations of $59.58 billion. During the same period in the previous year, the company posted $6.77 EPS. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, research analysts predict that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

Analysts Set New Price Targets

CI has been the subject of several recent research reports. Royal Bank of Canada decreased their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Barclays boosted their price target on shares of The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $394.64.

Get Our Latest Stock Report on The Cigna Group

The Cigna Group Profile

(Free Report)

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.

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