Banque Pictet & Cie SA Sells 8,676 Shares of Cigna Group (NYSE:CI)

Banque Pictet & Cie SA lessened its position in shares of Cigna Group (NYSE:CI) by 15.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,030 shares of the health services provider’s stock after selling 8,676 shares during the period. Banque Pictet & Cie SA’s holdings in Cigna Group were worth $15,144,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Two Sigma Investments LP boosted its holdings in shares of Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock worth $211,219,000 after acquiring an additional 188,235 shares during the period. Humankind Investments LLC lifted its stake in Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after purchasing an additional 571 shares during the last quarter. NBC Securities Inc. bought a new stake in Cigna Group during the first quarter worth $123,000. First American Trust FSB bought a new stake in Cigna Group during the fourth quarter worth $4,471,000. Finally, English Capital Management LLC lifted its stake in Cigna Group by 6.2% during the fourth quarter. English Capital Management LLC now owns 20,586 shares of the health services provider’s stock worth $5,685,000 after purchasing an additional 1,202 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Cigna Group Trading Down 1.4%

NYSE CI opened at $309.17 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $82.59 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. The company’s 50-day simple moving average is $318.80 and its two-hundred day simple moving average is $310.08. Cigna Group has a one year low of $262.03 and a one year high of $370.83.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.47 EPS. Equities analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s payout ratio is 33.44%.

Wall Street Analysts Forecast Growth

CI has been the subject of several research analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Mizuho upped their price target on shares of Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Cantor Fitzgerald increased their price objective on shares of Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Robert W. Baird cut their price objective on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Finally, Truist Financial raised their price target on shares of Cigna Group from $385.00 to $405.00 and gave the company a “buy” rating in a research report on Monday, May 12th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Cigna Group has a consensus rating of “Buy” and a consensus target price of $380.39.

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.