Banque Pictet & Cie SA decreased its stake in shares of Cigna Group (NYSE:CI - Free Report) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund 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 reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. TCTC Holdings LLC acquired a new stake in shares of Cigna Group in the fourth quarter worth $25,000. Wayfinding Financial LLC acquired a new stake in shares of Cigna Group in the first quarter worth $40,000. Putney Financial Group LLC acquired a new stake in shares of Cigna Group in the fourth quarter worth $36,000. Transce3nd LLC acquired a new stake in shares of Cigna Group in the fourth quarter worth $38,000. Finally, Ameriflex Group Inc. acquired a new stake in Cigna Group during the 4th quarter valued at $44,000. Institutional investors and hedge funds own 86.99% of the company's stock.
Cigna Group Price Performance
Shares of CI stock traded down $6.07 during midday trading on Friday, reaching $302.71. 1,590,753 shares of the company were exchanged, compared to its average volume of 1,741,564. 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's 50 day moving average price is $317.02 and its two-hundred day moving average price is $310.62. Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a market cap of $80.86 billion, a P/E ratio of 16.76, a PEG ratio of 0.90 and a beta of 0.44.
Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping analysts' consensus estimates of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same period in the previous year, the firm earned $6.47 EPS. The business's revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current year.
Cigna Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were issued a $1.51 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.00%. Cigna Group's payout ratio is currently 33.44%.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on CI. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Cantor Fitzgerald raised their price target on shares of Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Guggenheim reaffirmed a "buy" rating and set a $388.00 price target on shares of Cigna Group in a report on Friday, May 23rd. Morgan Stanley raised their price target on shares of Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Cigna Group presently has an average rating of "Buy" and a consensus price target of $380.39.
Read Our Latest Research Report on CI
About Cigna Group
(
Free Report)
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.
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