Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in The Cigna Group (NYSE:CI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of The Cigna Group (NYSE:CI - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 188,067 shares of the health services provider's stock after buying an additional 11,991 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of The Cigna Group worth $51,933,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Simplicity Wealth LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $208,000. Ruffer LLP boosted its stake in shares of The Cigna Group by 1.7% during the 4th quarter. Ruffer LLP now owns 601,066 shares of the health services provider's stock worth $165,981,000 after purchasing an additional 10,302 shares during the period. OFI Invest Asset Management purchased a new position in shares of The Cigna Group during the 4th quarter worth about $546,000. United Community Bank boosted its stake in shares of The Cigna Group by 65.1% during the 4th quarter. United Community Bank now owns 761 shares of the health services provider's stock worth $210,000 after purchasing an additional 300 shares during the period. Finally, Amundi boosted its stake in shares of The Cigna Group by 19.9% during the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider's stock worth $628,579,000 after purchasing an additional 374,865 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares of the company's stock, valued at $9,065,198.52. This represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,375 shares of company stock valued at $12,866,600. 0.60% of the stock is currently owned by company insiders.

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The Cigna Group Trading Down 2.9 %

The Cigna Group stock traded down $9.44 during midday trading on Tuesday, hitting $317.24. 1,955,263 shares of the stock were exchanged, compared to its average volume of 1,870,027. The Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a market capitalization of $86.82 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 0.98 and a beta of 0.53. The stock's 50-day simple moving average is $293.88 and its 200 day simple moving average is $317.40. 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 Cigna Group (NYSE:CI - Get Free Report) last announced 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 quarter last year, the firm earned $6.79 EPS. On average, equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders 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. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.90%. The Cigna Group's dividend payout ratio (DPR) is presently 49.35%.

Analysts Set New Price Targets

CI has been the subject of several research reports. Morgan Stanley lowered their price objective on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $348.00 price target (down previously from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Oppenheimer lowered their price target on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research report on Friday, January 31st. Finally, Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $372.31.

About The Cigna Group

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.