Commerce Bank Grows Stake in The Cigna Group (NYSE:CI)

Commerce Bank grew its holdings in The Cigna Group (NYSE:CI) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 36,543 shares of the health services provider’s stock after buying an additional 4,374 shares during the quarter. Commerce Bank’s holdings in The Cigna Group were worth $12,660,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group in the 2nd quarter worth approximately $33,000. Ulland Investment Advisors LLC raised its position in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group in the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. bought a new position in shares of The Cigna Group in the 3rd quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group in the 2nd quarter worth approximately $66,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CI. Deutsche Bank Aktiengesellschaft decreased their target price 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. JPMorgan Chase & Co. raised their price target on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Royal Bank of Canada lowered their target price on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $394.64.

The Cigna Group Trading Up 0.3 %

Shares of CI stock opened at $323.36 on Thursday. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $336.78 and its two-hundred day simple moving average is $339.03. The company has a market cap of $89.94 billion, a PE ratio of 30.51, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period in the prior year, the business posted $6.77 earnings per share. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. Research analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. 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 1.73%. The Cigna Group’s dividend payout ratio (DPR) is presently 52.83%.

The Cigna Group 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.