J. Safra Sarasin Holding AG Grows Stake in Cigna Group (NYSE:CI)

Key Points

• J. Safra Sarasin Holding AG has increased its holdings in Cigna Group by 8.2% during the first quarter, acquiring an additional 1,320 shares, which brings their total to 17,422 shares valued at approximately $5.73 million.
• Analysts have shown optimism, with three analysts giving Cigna a hold rating, sixteen a buy rating, and two a strong buy rating, while the average target price for the stock is set at $378.67.
• Cigna Group recently announced a quarterly dividend of $1.51 per share, which represents an annualized dividend yield of 2.3%, affecting shareholders of record as of September 4th.

J. Safra Sarasin Holding AG grew its position in shares of Cigna Group (NYSE:CI - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,422 shares of the health services provider's stock after purchasing an additional 1,320 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Cigna Group were worth $5,732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Evermay Wealth Management LLC boosted its stake in Cigna Group by 58.6% during the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after acquiring an additional 41 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of Cigna Group in the 1st quarter valued at about $38,000. Wayfinding Financial LLC bought a new stake in Cigna Group in the 1st quarter valued at about $40,000. Putney Financial Group LLC acquired a new position in Cigna Group during the 4th quarter worth approximately $36,000. Finally, Transce3nd LLC bought a new position in Cigna Group in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Robert W. Baird decreased their target price on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. 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 research report on Monday, May 5th. Barclays lowered their price objective on Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Finally, Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has a consensus rating of "Moderate Buy" and an average price target of $377.72.

Cigna Group Stock Performance

CI traded down $0.60 during trading hours on Thursday, hitting $269.37. The stock had a trading volume of 580,708 shares, compared to its average volume of 1,852,365. Cigna Group has a 1 year low of $256.89 and a 1 year high of $370.83. The company's fifty day simple moving average is $306.22 and its 200 day simple moving average is $311.64. The stock has a market cap of $71.90 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 0.81 and a beta of 0.47. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last posted its 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 firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company's revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $6.72 earnings per share. Equities analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's payout ratio is presently 32.97%.

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.