Commerce Bank Cuts Holdings in The Cigna Group (NYSE:CI)

Commerce Bank cut its holdings in The Cigna Group (NYSE:CIFree Report) by 0.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 34,119 shares of the health services provider’s stock after selling 72 shares during the quarter. Commerce Bank’s holdings in The Cigna Group were worth $10,217,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in The Cigna Group in the 4th quarter valued at about $1,006,348,000. Parnassus Investments LLC purchased a new stake in shares of The Cigna Group in the third quarter valued at about $731,041,000. FMR LLC grew its position in shares of The Cigna Group by 13.8% in the third quarter. FMR LLC now owns 15,967,363 shares of the health services provider’s stock valued at $4,567,783,000 after purchasing an additional 1,939,554 shares during the last quarter. Cerity Partners LLC increased its stake in shares of The Cigna Group by 1,039.4% during the 4th quarter. Cerity Partners LLC now owns 590,063 shares of the health services provider’s stock worth $176,694,000 after purchasing an additional 538,274 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of The Cigna Group by 3.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,833,753 shares of the health services provider’s stock worth $3,385,282,000 after purchasing an additional 345,605 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on CI. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $355.00 to $370.00 in a research report on Thursday, February 1st. Wells Fargo & Company raised their price target on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 6th. Royal Bank of Canada raised shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Finally, Cantor Fitzgerald raised their target price on shares of The Cigna Group from $384.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $366.14.

Read Our Latest Stock Report on CI

The Cigna Group Trading Down 1.5 %

Shares of NYSE:CI traded down $5.22 during trading on Friday, reaching $332.61. 1,311,594 shares of the stock were exchanged, compared to its average volume of 1,632,541. The firm’s 50-day moving average price is $350.99 and its 200 day moving average price is $323.15. The firm has a market cap of $94.48 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.03 and a beta of 0.57. The Cigna Group has a 12-month low of $240.50 and a 12-month high of $365.71. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CIGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. During the same period in the previous year, the company posted $5.41 earnings per share. The Cigna Group’s revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Cigna Group will post 28.47 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.68%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the completion of the transaction, the senior vice president now owns 2,595 shares in the company, valued at approximately $904,902.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO David Cordani sold 2,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $345.04, for a total value of $690,080.00. Following the completion of the transaction, the chief executive officer now owns 336,783 shares of the company’s stock, valued at $116,203,606.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of The Cigna Group stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total value of $2,073,429.66. Following the sale, the senior vice president now owns 2,595 shares in the company, valued at $904,902.45. The disclosure for this sale can be found here. Insiders have sold 72,366 shares of company stock valued at $25,440,835 over the last three months. 0.60% of the stock is owned by company insiders.

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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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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