Swiss National Bank Cuts Stock Position in The Cigna Group (NYSE:CI)

Swiss National Bank trimmed its position in The Cigna Group (NYSE:CI) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 789,701 shares of the health services provider’s stock after selling 53,400 shares during the period. Swiss National Bank’s holdings in The Cigna Group were worth $218,068,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CI. Collier Financial acquired a new stake in shares of The Cigna Group in the 4th quarter worth $32,000. ORG Wealth Partners LLC purchased a new position in The Cigna Group during the fourth quarter worth about $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group in the third quarter valued at about $37,000. Compagnie Lombard Odier SCmA purchased a new stake in The Cigna Group in the 4th quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group during the 4th quarter worth approximately $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now owns 13,406 shares of the company’s stock, valued at approximately $4,289,920. This 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 the SEC website. Also, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now directly owns 127,767 shares of the company’s stock, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,375 shares of company stock valued at $12,866,600 in the last ninety days. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CI. StockNews.com raised The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Truist Financial reduced their target price 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. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Cantor Fitzgerald reduced 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 research note on Friday, January 31st. Finally, Raymond James reissued a “strong-buy” rating and set a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $372.31.

The Cigna Group Trading Up 0.2 %

Shares of The Cigna Group stock opened at $311.61 on Friday. The Cigna Group has a 1 year low of $262.03 and a 1 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 has a 50 day moving average price of $296.14 and a 200 day moving average price of $317.06. The company has a market capitalization of $85.28 billion, a P/E ratio of 25.46, a P/E/G ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period last year, the firm earned $6.79 earnings per share. Sell-side analysts anticipate 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 will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 1.94%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is 49.35%.

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.