The Cigna Group (NYSE:CI) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG decreased its position in The Cigna Group (NYSE:CI) by 6.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 34,335 shares of the health services provider’s stock after selling 2,519 shares during the period. Bank Pictet & Cie Europe AG’s holdings in The Cigna Group were worth $11,895,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in The Cigna Group by 8.1% in the first quarter. Vanguard Group Inc. now owns 26,793,138 shares of the health services provider’s stock valued at $9,731,000,000 after purchasing an additional 2,017,333 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of The Cigna Group by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after acquiring an additional 867,180 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of The Cigna Group by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock worth $869,078,000 after acquiring an additional 150,765 shares during the period. Ameriprise Financial Inc. boosted its position in shares of The Cigna Group by 23.4% in the second quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after acquiring an additional 405,694 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in The Cigna Group by 63.4% in the second quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock valued at $510,467,000 after purchasing an additional 600,215 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Stock Performance

Shares of CI opened at $317.46 on Wednesday. The firm has a market cap of $90.18 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $350.20 and its two-hundred day moving average is $343.58. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The firm had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.13 EPS. Analysts forecast that The Cigna Group will post 28.48 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Stephens reiterated an “overweight” rating and set a $410.00 target price on shares of The Cigna Group in a report on Friday, August 2nd. Finally, Jefferies Financial Group raised their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $392.79.

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.