CIBC Asset Management Inc Has $11.83 Million Stock Position in The Cigna Group (NYSE:CI)

CIBC Asset Management Inc grew its position in shares of The Cigna Group (NYSE:CI) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,843 shares of the health services provider’s stock after acquiring 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 reporting period.

A number of other large investors have also recently bought and sold shares of CI. AMF Tjanstepension AB boosted its position in The Cigna Group by 18.6% during the 3rd quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after acquiring an additional 11,550 shares during the last quarter. Swedbank AB boosted its position in The Cigna Group by 26.6% during the 3rd quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after acquiring an additional 119,681 shares during the last quarter. Capital Investment Advisors LLC boosted its position in The Cigna Group by 5.9% during the 3rd quarter. Capital Investment Advisors LLC now owns 1,188 shares of the health services provider’s stock worth $412,000 after acquiring an additional 66 shares during the last quarter. Whittier Trust Co. boosted its position in The Cigna Group by 0.7% during the 3rd quarter. Whittier Trust Co. now owns 6,710 shares of the health services provider’s stock worth $2,325,000 after acquiring an additional 45 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its position in The Cigna Group by 125.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,116 shares of the health services provider’s stock worth $1,079,000 after acquiring an additional 1,735 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Up 0.8 %

CI opened at $294.75 on Wednesday. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The stock’s fifty day simple moving average is $285.91 and its 200 day simple moving average is $320.38. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock has a market cap of $81.98 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 return on equity of 18.61% and a net margin of 1.39%. During the same period in the prior year, the firm posted $6.79 EPS. As a group, research analysts expect that The Cigna Group will post 29.8 earnings per share 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. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 2.05%. The Cigna Group’s dividend payout ratio (DPR) is presently 45.75%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CI shares. Oppenheimer dropped their price objective 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. Cantor Fitzgerald dropped their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Stephens dropped their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group dropped their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Finally, Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective on the stock. in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $373.69.

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.