Commerzbank Aktiengesellschaft FI lessened its holdings in shares of Cigna Group (NYSE:CI – Free Report) by 17.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 15,145 shares of the health services provider’s stock after selling 3,243 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Cigna Group were worth $4,040,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Wilkerson Advisory Group LLC bought a new stake in shares of Cigna Group during the fourth quarter valued at about $25,000. Beacon Financial Strategies CORP acquired a new stake in Cigna Group in the fourth quarter worth about $28,000. Cedar Mountain Advisors LLC grew its position in Cigna Group by 161.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock valued at $29,000 after buying an additional 68 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in Cigna Group in the 4th quarter valued at about $29,000. Finally, Prosperity Bancshares Inc acquired a new position in Cigna Group during the 4th quarter valued at about $29,000. Institutional investors own 86.99% of the company’s stock.
Cigna Group Stock Performance
NYSE:CI opened at $284.01 on Tuesday. Cigna Group has a twelve month low of $239.51 and a twelve month high of $315.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average of $286.59 and a 200-day moving average of $280.48. The firm has a market cap of $75.13 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 1.08 and a beta of 0.29.
Cigna Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a $1.56 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $6.24 annualized dividend and a dividend yield of 2.2%. Cigna Group’s dividend payout ratio is currently 26.45%.
Insiders Place Their Bets
In other news, CAO Jamie G. Kates sold 899 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $298.61, for a total transaction of $268,450.39. Following the completion of the sale, the chief accounting officer directly owned 2,368 shares of the company’s stock, valued at $707,108.48. This trade represents a 27.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Cordani sold 201,878 shares of Cigna Group stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total value of $59,113,915.96. Following the completion of the transaction, the chief executive officer owned 34,337 shares in the company, valued at $10,054,560.34. The trade was a 85.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on CI shares. Morgan Stanley upped their price target on shares of Cigna Group from $355.00 to $361.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada raised their price objective on shares of Cigna Group from $333.00 to $337.00 and gave the company an “outperform” rating in a research note on Friday, May 1st. Mizuho boosted their target price on Cigna Group from $330.00 to $340.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Robert W. Baird set a $337.00 target price on Cigna Group in a research report on Friday, May 1st. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $315.00 price target on shares of Cigna Group in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $338.80.
Check Out Our Latest Analysis on CI
Cigna Group Company Profile
Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.
In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.
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