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

Bank Pictet & Cie Europe AG decreased its holdings in shares of The Cigna Group (NYSE:CI) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Roman Butler Fullerton & Co. lifted its stake in shares of The Cigna Group by 748.9% during the 4th quarter. Roman Butler Fullerton & Co. now owns 136,951 shares of the health services provider’s stock valued at $37,818,000 after buying an additional 120,819 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in shares of The Cigna Group by 5.6% during the 4th quarter. V Square Quantitative Management LLC now owns 6,084 shares of the health services provider’s stock valued at $1,680,000 after buying an additional 323 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of The Cigna Group during the 4th quarter valued at $37,000. Northern Financial Advisors Inc purchased a new position in shares of The Cigna Group during the 4th quarter valued at $208,000. Finally, Vontobel Holding Ltd. lifted its stake in shares of The Cigna Group by 5.7% during the 4th quarter. Vontobel Holding Ltd. now owns 24,778 shares of the health services provider’s stock valued at $6,842,000 after buying an additional 1,334 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of analyst reports. Barclays lowered their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. UBS Group lowered their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. StockNews.com cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Down 2.6 %

Shares of NYSE CI opened at $292.12 on Friday. The firm’s 50-day moving average price is $286.97 and its 200-day moving average price is $321.46. 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 stock has a market capitalization of $81.25 billion, a price-to-earnings ratio of 23.87, a P/E/G ratio of 0.94 and a beta of 0.54. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83.

The Cigna Group (NYSE:CI) last announced its earnings results 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 quarter in the previous year, the firm earned $6.79 EPS. On average, equities research analysts anticipate that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company 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 dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.07%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio is presently 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.