Bank Pictet & Cie Europe AG Sells 4,380 Shares of The Cigna Group (NYSE:CI)

Bank Pictet & Cie Europe AG trimmed its position in shares of The Cigna Group (NYSE:CI) by 12.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,955 shares of the health services provider’s stock after selling 4,380 shares during the period. Bank Pictet & Cie Europe AG’s holdings in The Cigna Group were worth $8,272,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in The Cigna Group in the 3rd quarter worth about $37,000. Collier Financial bought a new position in The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter worth about $34,000. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the 3rd quarter worth about $45,000. Finally, Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter worth about $37,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CI. Sanford C. Bernstein downgraded shares of 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. Truist Financial lowered their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Raymond James reaffirmed a “strong-buy” rating and issued a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. StockNews.com cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, January 31st. Finally, Cantor Fitzgerald lowered their price target on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has an average rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Trading Down 2.6 %

NYSE:CI opened at $292.12 on Friday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The firm has a 50 day moving average of $286.97 and a 200 day moving average of $321.46. 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 stock has a market capitalization of $81.25 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing analysts’ consensus estimates 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. As a group, sell-side analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.07%. 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 49.35%.

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.