Banque Pictet & Cie SA Lowers Stake in The Cigna Group (NYSE:CI)

Banque Pictet & Cie SA reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CI. V Square Quantitative Management LLC raised its holdings 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 worth $1,680,000 after acquiring an additional 323 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group during the fourth quarter worth about $37,000. Northern Financial Advisors Inc purchased a new position in The Cigna Group during the fourth quarter worth about $208,000. Vontobel Holding Ltd. boosted its holdings in The Cigna Group by 5.7% in the 4th quarter. Vontobel Holding Ltd. now owns 24,778 shares of the health services provider's stock valued at $6,842,000 after purchasing an additional 1,334 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of The Cigna Group by 2.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 125,898 shares of the health services provider's stock valued at $35,080,000 after buying an additional 3,565 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Up 0.8 %

The Cigna Group stock traded up $2.43 during trading on Tuesday, reaching $294.75. The stock had a trading volume of 1,791,195 shares, compared to its average volume of 1,813,006. 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 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market cap of $81.98 billion, a PE ratio of 24.08, a P/E/G ratio of 0.94 and a beta of 0.54. The business has a 50 day moving average price of $285.91 and a 200 day moving average price of $320.38.

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 last year, the firm earned $6.79 earnings per share. On average, analysts predict that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.05%. The ex-dividend date is Wednesday, March 5th. The Cigna Group's dividend payout ratio is currently 45.75%.

Analysts Set New Price Targets

A number of research analysts recently commented on CI shares. Morgan Stanley decreased their price objective on The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Wells Fargo & Company decreased their price target on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their price target on The Cigna Group from $398.00 to $394.00 and set a "buy" rating for the company in a report on Monday, November 4th. Royal Bank of Canada reduced their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Finally, Raymond James reaffirmed a "strong-buy" rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $373.69.

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.