Bank Pictet & Cie Europe AG Has $4.24 Million Holdings in Cigna Group (NYSE:CI)

Bank Pictet & Cie Europe AG trimmed its holdings in Cigna Group (NYSE:CI - Free Report) by 57.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,891 shares of the health services provider's stock after selling 17,064 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Cigna Group were worth $4,241,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. TCTC Holdings LLC acquired a new position in shares of Cigna Group in the fourth quarter valued at $25,000. Putney Financial Group LLC bought a new stake in shares of Cigna Group during the 4th quarter worth $36,000. Transce3nd LLC acquired a new stake in shares of Cigna Group in the 4th quarter valued at approximately $38,000. Ameriflex Group Inc. acquired a new stake in Cigna Group during the 4th quarter worth approximately $44,000. Finally, Heck Capital Advisors LLC acquired a new stake in Cigna Group in the fourth quarter valued at $53,000. Institutional investors own 86.99% of the company's stock.

Cigna Group Stock Up 0.6%

Cigna Group stock traded up $1.83 during mid-day trading on Thursday, reaching $314.34. 1,170,259 shares of the company's stock were exchanged, compared to its average volume of 1,715,859. Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a market cap of $83.97 billion, a P/E ratio of 17.41, a P/E/G ratio of 0.93 and a beta of 0.44. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The company has a fifty day moving average of $322.05 and a 200-day moving average of $308.09.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $6.47 EPS. Sell-side analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were given 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 1.92%. Cigna Group's payout ratio is currently 33.44%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CI shares. Guggenheim reaffirmed a "buy" rating and issued a $388.00 price target on shares of Cigna Group in a research report on Friday, May 23rd. Piper Sandler upped their price target on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Cantor Fitzgerald increased their price target on shares of Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Tuesday, June 3rd. Finally, Wall Street Zen raised Cigna Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $380.39.

Cigna Group Company 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.