Banque Pictet & Cie SA Sells 19,047 Shares of Cigna Group $CI

Key Points

• Banque Pictet & Cie SA has reduced its stake in Cigna Group by 41.4%, selling 19,047 shares and now holding 26,983 shares valued at approximately $8.92 million.
• Several other large institutional investors have adjusted their holdings in Cigna Group, with 86.99% of the stock currently owned by institutional investors.
• Cigna Group recently reported a quarterly earnings per share (EPS) of $7.20, exceeding expectations, along with a revenue of $67.13 billion for the quarter.

Banque Pictet & Cie SA cut its holdings in Cigna Group (NYSE:CI - Free Report) by 41.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,983 shares of the health services provider's stock after selling 19,047 shares during the quarter. Banque Pictet & Cie SA's holdings in Cigna Group were worth $8,920,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CI. Price T Rowe Associates Inc. MD increased its position in shares of Cigna Group by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock valued at $3,966,690,000 after purchasing an additional 1,094,327 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Cigna Group by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock worth $3,834,493,000 after purchasing an additional 98,715 shares during the last quarter. Dodge & Cox grew its stake in shares of Cigna Group by 1.3% during the first quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock valued at $2,924,722,000 after buying an additional 117,125 shares during the last quarter. GQG Partners LLC lifted its stake in shares of Cigna Group by 21.5% during the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock worth $1,607,716,000 after acquiring an additional 865,092 shares during the last quarter. Finally, Parnassus Investments LLC increased its stake in Cigna Group by 3.1% in the first quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider's stock worth $949,357,000 after purchasing an additional 86,602 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. Barclays increased their price target on Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Robert W. Baird set a $372.00 price objective on Cigna Group in a report on Thursday, August 14th. Wall Street Zen upgraded shares of Cigna Group from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Truist Financial set a $375.00 price target on shares of Cigna Group in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $371.81.

Cigna Group Stock Performance

CI opened at $284.06 on Friday. The firm has a market capitalization of $75.83 billion, a PE ratio of 15.51, a P/E/G ratio of 0.85 and a beta of 0.48. The firm has a 50 day moving average of $292.89 and a two-hundred day moving average of $310.72. Cigna Group has a 12-month low of $256.89 and a 12-month high of $358.88. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping the consensus estimate of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $1.51 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.1%. Cigna Group's payout ratio is presently 32.97%.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the sale, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.70% of the company's stock.

About 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.

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