Pictet Asset Management Holding SA Raises Stake in The Cigna Group (NYSE:CI)

Pictet Asset Management Holding SA grew its holdings in shares of The Cigna Group (NYSE:CI) by 31.0% during the 4th quarter, HoldingsChannel reports. The fund owned 334,686 shares of the health services provider’s stock after acquiring an additional 79,204 shares during the quarter. Pictet Asset Management Holding SA’s holdings in The Cigna Group were worth $92,420,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. TCTC Holdings LLC purchased a new stake in The Cigna Group during the 4th quarter valued at about $25,000. Collier Financial purchased a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the fourth quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new stake in The Cigna Group during the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC bought a new stake in The Cigna Group during the 4th quarter valued at $53,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CI has been the topic of a number of analyst reports. Piper Sandler restated an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a report on Friday, January 31st. Truist Financial dropped their price objective on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, February 4th. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a research note on Thursday, February 6th. Finally, Morgan Stanley dropped their price target on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $373.25.

The Cigna Group Stock Up 0.1 %

CI stock opened at $324.97 on Friday. The business has a 50 day moving average of $304.67 and a 200 day moving average of $313.78. The firm has a market cap of $88.94 billion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last issued 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 period in the prior year, the company earned $6.79 EPS. On average, research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

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

Insider Activity

In related news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the transaction, the director now directly owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock worth $13,603,991 over the last 90 days. 0.70% of the stock is currently owned by insiders.

About The 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.