Commerzbank Aktiengesellschaft FI Takes Position in The Cigna Group (NYSE:CI)

Commerzbank Aktiengesellschaft FI bought a new stake in The Cigna Group (NYSE:CI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,088 shares of the health services provider’s stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bogart Wealth LLC boosted its position in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of The Cigna Group in the 3rd quarter worth $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group in the 4th quarter worth $29,000. VisionPoint Advisory Group LLC boosted its position in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares during the last quarter. Finally, Pacifica Partners Inc. boosted its position in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after purchasing an additional 60 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CI. Barclays began coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price on the stock. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Wells Fargo & Company lifted their target price on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Sanford C. Bernstein upgraded The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $330.00 to $372.00 in a report on Thursday, January 4th. Finally, Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $355.00 to $370.00 in a report on Thursday, February 1st. Two 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. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus price target of $362.14.

Insiders Place Their Bets

In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares in the company, valued at $15,275,786.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Cordani sold 31,209 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the sale, the chief executive officer now owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders sold 114,144 shares of company stock worth $39,296,330 over the last three months. Insiders own 0.70% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock traded up $1.30 during trading on Monday, hitting $353.69. The company had a trading volume of 41,440 shares, compared to its average volume of 1,581,984. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $103.40 billion, a P/E ratio of 20.26, a price-to-earnings-growth ratio of 1.08 and a beta of 0.56. The stock’s 50-day moving average price is $348.41 and its 200 day moving average price is $315.91. The Cigna Group has a one year low of $240.50 and a one year high of $365.71.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The business had revenue of $51.15 billion during the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the company posted $4.96 earnings per share. Equities analysts expect that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were paid a dividend of $1.40 per share. The ex-dividend date was Tuesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a yield of 1.58%. The Cigna Group’s dividend payout ratio is presently 32.20%.

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.