CIBC Asset Management Inc Grows Stock Position in Cigna Group $CI

Key Points

• CIBC Asset Management boosted its Cigna stake by 80.5% in the fourth quarter, owning 68,399 shares valued at about $18.8 million after buying 30,500 more shares.
• Wall Street sentiment on Cigna remains generally positive, with a Moderate Buy consensus and an average price target of $338.30, though Deutsche Bank recently downgraded the stock to hold.
• Cigna reported better-than-expected quarterly results, with EPS of $7.79 topping estimates and revenue rising 4.6% year over year; the company also declared a quarterly dividend of $1.56 per share.

CIBC Asset Management Inc increased its stake in shares of Cigna Group (NYSE:CI - Free Report) by 80.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,399 shares of the health services provider's stock after purchasing an additional 30,500 shares during the quarter. CIBC Asset Management Inc's holdings in Cigna Group were worth $18,825,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Cigna Group by 11.0% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 363 shares of the health services provider's stock valued at $100,000 after buying an additional 36 shares during the period. OLD National Bancorp IN increased its stake in shares of Cigna Group by 3.7% during the fourth quarter. OLD National Bancorp IN now owns 1,031 shares of the health services provider's stock worth $284,000 after buying an additional 37 shares during the period. CYBER HORNET ETFs LLC raised its holdings in Cigna Group by 5.3% in the fourth quarter. CYBER HORNET ETFs LLC now owns 801 shares of the health services provider's stock valued at $220,000 after acquiring an additional 40 shares in the last quarter. BNP Paribas raised its holdings in Cigna Group by 0.7% in the fourth quarter. BNP Paribas now owns 5,676 shares of the health services provider's stock valued at $1,566,000 after acquiring an additional 40 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. lifted its stake in Cigna Group by 0.8% in the third quarter. Cookson Peirce & Co. Inc. now owns 4,953 shares of the health services provider's stock worth $1,428,000 after acquiring an additional 41 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analyst Weigh In

CI has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut shares of Cigna Group from a "buy" rating to a "hold" rating and lowered their price target for the stock from $303.00 to $302.00 in a report on Wednesday, May 20th. TD Cowen lifted their price objective on shares of Cigna Group from $333.00 to $338.00 and gave the stock a "buy" rating in a research report on Monday, February 9th. Cantor Fitzgerald boosted their target price on shares of Cigna Group from $325.00 to $340.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Piper Sandler dropped their target price on Cigna Group from $370.00 to $346.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Wall Street Zen upgraded Cigna Group from a "hold" rating to a "buy" rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $338.30.

Insider Buying and Selling

In other Cigna Group news, CEO David Cordani sold 201,878 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 34,337 shares in the company, valued at approximately $10,054,560.34. The trade was a 85.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

Cigna Group Trading Up 3.7%

Shares of Cigna Group stock opened at $280.86 on Friday. 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 fifty day simple moving average of $279.18 and a 200-day simple moving average of $277.15. The stock has a market cap of $74.30 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 1.04 and a beta of 0.28. Cigna Group has a 12-month low of $239.51 and a 12-month high of $338.89.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, topping the consensus estimate of $7.60 by $0.19. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. The firm had revenue of $68.52 billion for the quarter, compared to analyst estimates of $66.29 billion. During the same period last year, the business earned $6.74 EPS. Cigna Group's revenue for the quarter was up 4.6% compared to the same quarter last year. Cigna Group has set its FY 2026 guidance at 30.350- EPS. On average, equities analysts forecast that Cigna Group will post 30.39 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, June 4th. Cigna Group's dividend payout ratio (DPR) is currently 26.45%.

About Cigna Group

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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