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

CIBC Asset Management Inc boosted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,843 shares of the health services provider's stock after purchasing an additional 1,411 shares during the quarter. CIBC Asset Management Inc's holdings in The Cigna Group were worth $11,831,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Adero Partners LLC lifted its position in shares of The Cigna Group by 4.5% during the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider's stock valued at $273,000 after acquiring an additional 34 shares during the period. Waldron Private Wealth LLC raised its stake in The Cigna Group by 1.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider's stock valued at $1,265,000 after purchasing an additional 35 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider's stock valued at $422,000 after buying an additional 35 shares during the last quarter. Smithfield Trust Co increased its stake in The Cigna Group by 3.6% in the third quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider's stock valued at $373,000 after purchasing an additional 38 shares during the last quarter. Finally, Griffin Asset Management Inc. increased its stake in shares of The Cigna Group by 0.6% during the 4th quarter. Griffin Asset Management Inc. now owns 6,770 shares of the health services provider's stock valued at $1,869,000 after acquiring an additional 39 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CI has been the subject of a number of research analyst reports. Raymond James restated a "strong-buy" rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Wells Fargo & Company dropped their price target on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. Barclays cut their price target on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, The Cigna Group has a consensus rating of "Buy" and a consensus price target of $373.69.

The Cigna Group Stock Up 0.1 %

NYSE CI traded up $0.24 during trading on Friday, hitting $299.92. The stock had a trading volume of 2,213,736 shares, compared to its average volume of 1,806,507. The company's 50-day moving average price is $285.99 and its two-hundred day moving average price is $319.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a market capitalization of $83.42 billion, a PE ratio of 24.50, a P/E/G ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the firm earned $6.79 earnings per share. As a group, sell-side analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Wednesday, March 5th. The Cigna Group's dividend payout ratio is currently 45.75%.

The 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.