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

Commerzbank Aktiengesellschaft FI grew its stake in shares of The Cigna Group (NYSE:CI) by 22.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,487 shares of the health services provider’s stock after acquiring an additional 457 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in The Cigna Group were worth $862,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CI. BLB&B Advisors LLC grew its holdings in The Cigna Group by 2.0% in the third quarter. BLB&B Advisors LLC now owns 2,245 shares of the health services provider’s stock valued at $778,000 after purchasing an additional 43 shares during the period. RBA Wealth Management LLC increased its holdings in shares of The Cigna Group by 5.5% during the 3rd quarter. RBA Wealth Management LLC now owns 11,242 shares of the health services provider’s stock worth $3,895,000 after buying an additional 589 shares during the last quarter. Waldron Private Wealth LLC raised its position in shares of The Cigna Group by 1.0% in the 3rd quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock worth $1,265,000 after buying an additional 35 shares during the period. Eastern Bank acquired a new position in The Cigna Group in the third quarter valued at $545,000. Finally, Signaturefd LLC grew its position in The Cigna Group by 1.7% during the third quarter. Signaturefd LLC now owns 5,614 shares of the health services provider’s stock valued at $1,945,000 after acquiring an additional 92 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $410.00 price objective on shares of The Cigna Group in a research note on Friday, August 2nd. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada restated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a report on Monday, September 9th. Piper Sandler started coverage on The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Finally, Barclays boosted their price objective on The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus price target of $392.79.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.60% of the stock is owned by corporate insiders.

The Cigna Group Stock Performance

Shares of CI opened at $317.61 on Thursday. The firm has a market cap of $90.22 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $349.85 and its two-hundred day moving average is $343.40. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.13 EPS. Analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.76%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

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.