Cigna Group (NYSE:CI) Shares Purchased by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its stake in Cigna Group (NYSE:CI - Free Report) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,049 shares of the health services provider's stock after purchasing an additional 1,804 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Cigna Group were worth $3,307,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Two Sigma Investments LP lifted its stake in Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after acquiring an additional 188,235 shares during the period. Humankind Investments LLC lifted its stake in Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after acquiring an additional 571 shares during the period. NBC Securities Inc. purchased a new stake in Cigna Group in the first quarter worth $123,000. SBI Securities Co. Ltd. lifted its stake in Cigna Group by 18.8% in the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock worth $131,000 after acquiring an additional 63 shares during the period. Finally, First American Trust FSB purchased a new stake in Cigna Group in the fourth quarter worth $4,471,000. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Price Performance

Shares of CI stock traded down $3.01 on Friday, reaching $295.27. The company's stock had a trading volume of 2,071,564 shares, compared to its average volume of 1,743,984. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock's fifty day simple moving average is $313.74 and its 200-day simple moving average is $311.19. The company has a market capitalization of $78.88 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The company had revenue of $65.45 billion during the quarter, compared to analyst estimates of $60.39 billion. During the same period in the previous year, the firm earned $6.47 earnings per share. Cigna Group's quarterly revenue was up 14.4% compared to the same quarter last year. Analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a $1.51 dividend. The ex-dividend date was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a dividend yield of 2.05%. Cigna Group's dividend payout ratio is currently 33.44%.

Analysts Set New Price Targets

CI has been the subject of several recent research reports. Cowen reissued a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Morgan Stanley raised their price objective on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Guggenheim reissued a "buy" rating and set a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Finally, Piper Sandler raised their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $380.39.

About Cigna Group

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.