CIBC Asset Management Inc Purchases 2,858 Shares of The Cigna Group (NYSE:CI)

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

Other hedge funds also recently bought and sold shares of the company. Checchi Capital Advisers LLC boosted its holdings in The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider's stock valued at $1,185,000 after acquiring an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of The Cigna Group by 1.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider's stock worth $729,000 after purchasing an additional 31 shares during the last quarter. IFG Advisors LLC grew its holdings in shares of The Cigna Group by 4.6% in the third quarter. IFG Advisors LLC now owns 699 shares of the health services provider's stock worth $242,000 after purchasing an additional 31 shares during the last quarter. McClarren Financial Advisors Inc. raised its holdings in The Cigna Group by 4.7% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider's stock valued at $240,000 after buying an additional 31 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its holdings in The Cigna Group by 2.9% during the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider's stock valued at $371,000 after buying an additional 32 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded down $2.36 on Friday, hitting $321.52. 1,650,180 shares of the company's stock were exchanged, compared to its average volume of 1,545,534. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a 50-day simple moving average of $338.88 and a 200-day simple moving average of $339.67. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $89.43 billion, a PE ratio of 30.33, a PEG ratio of 1.00 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The firm had revenue of $63.70 billion during the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The company's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted $6.77 earnings per share. As a group, equities analysts anticipate that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CI shares. Jefferies Financial Group boosted their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a "buy" rating in a research report on Tuesday, September 17th. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a research report on Monday, November 4th. StockNews.com cut The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Royal Bank of Canada dropped their price target on The Cigna Group from $384.00 to $377.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of "Buy" and an average target price of $394.64.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the firm'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 completion of the transaction, the director now directly owns 17,539 shares of the company's stock, valued at approximately $6,010,264.52. This trade represents a 13.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

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.