Banque Pictet & Cie SA Sells 16,986 Shares of The Cigna Group (NYSE:CI)

Banque Pictet & Cie SA lowered its stake in The Cigna Group (NYSE:CI) by 23.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,706 shares of the health services provider’s stock after selling 16,986 shares during the quarter. Banque Pictet & Cie SA’s holdings in The Cigna Group were worth $15,107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Financial Group Inc. bought a new position in shares of The Cigna Group in the 4th quarter worth about $4,367,000. Marks Group Wealth Management Inc lifted its stake in The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock valued at $8,319,000 after acquiring an additional 23,376 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in The Cigna Group by 3.6% during the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock worth $112,216,000 after purchasing an additional 11,228 shares during the last quarter. Trinity Street Asset Management LLP lifted its holdings in The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after acquiring an additional 5,397 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in shares of The Cigna Group by 1.1% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after buying an additional 858 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays cut their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Cantor Fitzgerald dropped their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Royal Bank of Canada reduced their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Trading Up 2.5 %

NYSE:CI opened at $299.99 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $287.42 and a 200-day simple moving average of $321.61. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a market capitalization of $83.44 billion, a P/E ratio of 24.51, a PEG ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 last year, the firm posted $6.79 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is currently 45.75%.

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.