Cibc World Markets Corp Purchases 5,752 Shares of The Cigna Group (NYSE:CI)

Cibc World Markets Corp lifted its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 15.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,980 shares of the health services provider's stock after buying an additional 5,752 shares during the quarter. Cibc World Markets Corp's holdings in The Cigna Group were worth $12,145,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CI. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter worth $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter worth about $34,000. Prospera Private Wealth LLC purchased a new position in The Cigna Group during the 3rd quarter valued at about $37,000. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group during the 4th quarter valued at about $37,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at about $53,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Trading Down 1.4 %

NYSE CI traded down $4.61 during trading on Friday, hitting $316.78. 3,552,779 shares of the company's stock traded hands, compared to its average volume of 1,839,276. The firm has a market cap of $86.70 billion, a P/E ratio of 25.88, a PEG ratio of 0.98 and a beta of 0.53. The stock has a fifty day moving average of $300.07 and a two-hundred day moving average of $315.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

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

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio (DPR) is 49.35%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares of the company's stock, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company's stock, valued at approximately $9,065,198.52. This represents a 14.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Truist Financial reduced their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, February 4th. Stephens decreased their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Raymond James reissued a "strong-buy" rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Piper Sandler restated an "overweight" rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Barclays dropped their price target on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $373.25.

About The Cigna Group

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.