CIBC Asset Management Inc Has $11.83 Million Stock Position in The Cigna Group (NYSE:CI)

CIBC Asset Management Inc lifted its stake in shares of The Cigna Group (NYSE:CI) by 3.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,843 shares of the health services provider’s stock after purchasing an additional 1,411 shares during the quarter. CIBC Asset Management Inc’s holdings in The Cigna Group were worth $11,831,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CI. Collier Financial acquired a new stake in shares of The Cigna Group during the 4th quarter worth $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth $34,000. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group during the 3rd quarter worth $37,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group during the 4th quarter worth $37,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of The Cigna Group during the 3rd quarter worth $45,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CI has been the topic of several research analyst reports. Barclays reduced their price objective on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group reduced their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada reduced their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Truist Financial reduced their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $373.69.

The Cigna Group Price Performance

Shares of CI opened at $294.75 on Wednesday. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a market capitalization of $81.98 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The business has a 50-day moving average of $285.91 and a 200-day moving average of $320.38.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 period in the prior year, the company earned $6.79 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. 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 2.05%. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is presently 45.75%.

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.