J. Safra Sarasin Holding AG Increases Position in The Cigna Group (NYSE:CI)

J. Safra Sarasin Holding AG increased its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 262.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,102 shares of the health services provider's stock after purchasing an additional 11,655 shares during the quarter. J. Safra Sarasin Holding AG's holdings in The Cigna Group were worth $4,446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CI. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $25,000. Collier Financial acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $32,000. ORG Wealth Partners LLC acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $34,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group during the 4th quarter worth about $37,000. Finally, Transce3nd LLC purchased a new position in The Cigna Group during the 4th quarter valued at about $38,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO David Cordani sold 26,527 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. This represents a 17.19 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 in the last 90 days. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on CI. Guggenheim began coverage on The Cigna Group in a report on Wednesday, April 9th. They set a "buy" rating and a $384.00 target price for the company. Cantor Fitzgerald raised their target price on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Oppenheimer lowered their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Sanford C. Bernstein cut The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Finally, Wells Fargo & Company decreased their price objective 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. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, The Cigna Group presently has an average rating of "Buy" and an average target price of $373.56.

The Cigna Group Stock Down 0.0 %

Shares of NYSE CI traded down $0.10 during midday trading on Friday, hitting $335.60. 1,400,117 shares of the company's stock were exchanged, compared to its average volume of 1,703,667. 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 twelve month low of $262.03 and a twelve month high of $370.83. The firm's fifty day simple moving average is $319.82 and its 200-day simple moving average is $310.16. The company has a market cap of $91.85 billion, a PE ratio of 27.42, a P/E/G ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS 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 quarter last year, the firm earned $6.79 earnings per share. Research analysts predict that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's dividend payout ratio is currently 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.