Commerce Bank Sells 557 Shares of The Cigna Group (NYSE:CI)

Commerce Bank decreased its position in The Cigna Group (NYSE:CI) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,986 shares of the health services provider’s stock after selling 557 shares during the quarter. Commerce Bank’s holdings in The Cigna Group were worth $9,937,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sterling Financial Group Inc. purchased a new stake in The Cigna Group during the fourth quarter valued at approximately $4,367,000. Principal Financial Group Inc. grew its position in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after acquiring an additional 11,228 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its stake in shares of The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after purchasing an additional 858 shares in the last quarter. Valley Wealth Managers Inc. raised its holdings in The Cigna Group by 2.8% in the 4th quarter. Valley Wealth Managers Inc. now owns 56,933 shares of the health services provider’s stock worth $15,721,000 after purchasing an additional 1,548 shares during the period. Finally, Pine Valley Investments Ltd Liability Co lifted its position in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider’s stock valued at $5,444,000 after purchasing an additional 3,466 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Up 0.2 %

CI stock opened at $329.97 on Friday. The firm has a market cap of $90.30 billion, a PE ratio of 26.96, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The firm has a fifty day moving average price of $315.87 and a 200 day moving average price of $310.95. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the firm earned $6.79 earnings per share. Sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 1.83%. The Cigna Group’s dividend payout ratio is 49.35%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Oppenheimer reduced their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research report on Friday, January 31st. Truist Financial raised their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Barclays dropped their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. UBS Group decreased their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research report on Monday, February 3rd. Finally, Morgan Stanley dropped their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $373.56.

Insider Activity

In other news, Director Elder Granger sold 2,376 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the transaction, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last ninety days. Insiders own 0.70% of the company’s stock.

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.