Commerce Bank Acquires 4,374 Shares of The Cigna Group (NYSE:CI)

Commerce Bank grew its holdings in shares of The Cigna Group (NYSE:CI) by 13.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 36,543 shares of the health services provider’s stock after buying an additional 4,374 shares during the period. Commerce Bank’s holdings in The Cigna Group were worth $12,660,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of CI. TruNorth Capital Management LLC bought a new position in The Cigna Group in the second quarter worth approximately $33,000. Ulland Investment Advisors LLC grew its stake in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new position in The Cigna Group in the third quarter worth approximately $37,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the third quarter worth approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in The Cigna Group in the second quarter worth approximately $66,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CI. Deutsche Bank Aktiengesellschaft dropped their price objective on The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. increased their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group increased their target price on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. StockNews.com cut The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Barclays increased their target price on The Cigna Group from $405.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $394.64.

The Cigna Group Stock Performance

Shares of CI stock opened at $323.36 on Thursday. The firm has a market capitalization of $89.94 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 0.97 and a beta of 0.51. 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 business has a fifty day moving average of $336.78 and a 200 day moving average of $339.03. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the business posted $6.77 EPS. As a group, research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently announced 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. The ex-dividend date 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 52.83%.

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.