J. Safra Sarasin Holding AG Increases Holdings in The Cigna Group (NYSE:CI)

J. Safra Sarasin Holding AG boosted its stake in shares of The Cigna Group (NYSE:CI) by 262.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,102 shares of the health services provider’s stock after buying an additional 11,655 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in The Cigna Group were worth $4,446,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. TCTC Holdings LLC bought a new position in The Cigna Group during the fourth quarter worth about $25,000. Collier Financial bought a new position in The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group in the 4th quarter valued at approximately $34,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group during the 4th quarter valued at $37,000. Finally, Transce3nd LLC purchased a new stake in shares of The Cigna Group during the fourth quarter worth $38,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $324.65 on Tuesday. The stock has a market capitalization of $88.85 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a one year low of $262.03 and a one 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 business’s 50 day simple moving average is $316.51 and its two-hundred day simple moving average is $310.42.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the firm posted $6.79 EPS. Analysts forecast that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. The Cigna Group’s payout ratio is 49.35%.

Insider Buying and Selling

In other The Cigna Group news, insider Noelle K. Eder sold 9,944 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Cordani sold 26,527 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This trade represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 over the last quarter. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. Guggenheim began coverage on The Cigna Group in a research note on Wednesday, April 9th. They set a “buy” rating and a $384.00 price objective on the stock. Cantor Fitzgerald raised their price objective on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Truist Financial raised their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, Wells Fargo & Company decreased their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $373.56.

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.