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

Banque Pictet & Cie SA lessened its holdings in shares of The Cigna Group (NYSE:CI) by 23.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,706 shares of the health services provider’s stock after selling 16,986 shares during the period. Banque Pictet & Cie SA’s holdings in The Cigna Group were worth $15,107,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the business. IFG Advisors LLC raised its holdings in shares of The Cigna Group by 4.6% in the 3rd quarter. IFG Advisors LLC now owns 699 shares of the health services provider’s stock valued at $242,000 after purchasing an additional 31 shares in the last quarter. McClarren Financial Advisors Inc. lifted its position in The Cigna Group by 4.7% during the third quarter. McClarren Financial Advisors Inc. now owns 692 shares of the health services provider’s stock valued at $240,000 after purchasing an additional 31 shares during the period. Adero Partners LLC grew its stake in shares of The Cigna Group by 4.5% during the 3rd quarter. Adero Partners LLC now owns 788 shares of the health services provider’s stock worth $273,000 after purchasing an additional 34 shares during the period. Waldron Private Wealth LLC raised its position in shares of The Cigna Group by 1.0% in the third quarter. Waldron Private Wealth LLC now owns 3,651 shares of the health services provider’s stock worth $1,265,000 after acquiring an additional 35 shares during the period. Finally, CreativeOne Wealth LLC increased its position in shares of The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider’s stock valued at $422,000 after buying an additional 35 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CI shares. Raymond James reiterated a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Truist Financial lowered their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Stephens reduced their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reduced their target price on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Three equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Stock Up 2.5 %

CI opened at $299.99 on Friday. The company has a market capitalization of $83.44 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The business has a 50-day moving average of $287.42 and a 200-day moving average of $321.61. 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 Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83.

The Cigna Group (NYSE:CI) last released its 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 company earned $6.79 EPS. Equities research analysts forecast 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. Shareholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is 45.75%.

The Cigna Group 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.