Bank Pictet & Cie Europe AG Has $8.27 Million Position in The Cigna Group (NYSE:CI)

Bank Pictet & Cie Europe AG reduced its position in shares of The Cigna Group (NYSE:CI - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sterling Financial Group Inc. purchased a new position in shares of The Cigna Group in the 4th quarter valued at $4,367,000. Marks Group Wealth Management Inc raised its stake in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider's stock worth $8,319,000 after buying an additional 23,376 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of The Cigna Group by 3.6% during the 3rd quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider's stock worth $112,216,000 after purchasing an additional 11,228 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in The Cigna Group by 1.1% in the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider's stock valued at $20,942,000 after buying an additional 858 shares in the last quarter. Finally, Trinity Street Asset Management LLP boosted its position in The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider's stock worth $28,204,000 after purchasing an additional 5,397 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CI. UBS Group cut their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a report on Monday, February 3rd. Sanford C. Bernstein lowered shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. Wells Fargo & Company reduced their target price on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Barclays cut their price objective on 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. Finally, Truist Financial decreased 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 report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, The Cigna Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $373.69.

The Cigna Group Trading Up 0.9 %

The Cigna Group stock traded up $2.52 during mid-day trading on Wednesday, hitting $297.27. 1,734,543 shares of the company's stock were exchanged, compared to its average volume of 1,810,551. The company's 50 day simple moving average is $285.58 and its 200-day simple moving average is $320.08. 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 Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market capitalization of $82.69 billion, a P/E ratio of 24.29, a PEG ratio of 0.96 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) last posted 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the prior year, the company earned $6.79 earnings per share. On average, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced 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. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio is presently 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.