Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in The Cigna Group (NYSE:CI)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in The Cigna Group (NYSE:CI - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,436 shares of the health services provider's stock after purchasing an additional 44,659 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.05% of The Cigna Group worth $44,449,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CI. Bogart Wealth LLC lifted its position in shares of The Cigna Group by 104.5% in the third quarter. Bogart Wealth LLC now owns 90 shares of the health services provider's stock valued at $26,000 after buying an additional 46 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of The Cigna Group in the third quarter valued at approximately $26,000. Fairfield Bush & CO. acquired a new stake in shares of The Cigna Group in the second quarter valued at approximately $28,000. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $29,000. Finally, Optimum Investment Advisors lifted its position in shares of The Cigna Group by 110.0% in the third quarter. Optimum Investment Advisors now owns 105 shares of the health services provider's stock valued at $30,000 after buying an additional 55 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Transactions at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of the business's stock in a transaction on Monday, March 25th. The stock was sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the transaction, the chief executive officer now owns 348,054 shares of the company's stock, valued at approximately $123,618,339.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other The Cigna Group news, insider Eric P. Palmer sold 6,083 shares of the company's stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $340.00, for a total value of $2,068,220.00. Following the completion of the transaction, the insider now owns 44,649 shares of the company's stock, valued at approximately $15,180,660. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Cordani sold 31,209 shares of the company's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company's stock, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,144 shares of company stock valued at $39,296,330. Corporate insiders own 0.70% of the company's stock.

The Cigna Group Price Performance

NYSE CI traded down $0.99 during midday trading on Wednesday, hitting $345.86. The company had a trading volume of 1,426,502 shares, compared to its average volume of 1,605,991. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The firm has a 50-day moving average price of $347.73 and a 200-day moving average price of $314.79. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $101.12 billion, a PE ratio of 19.89, a P/E/G ratio of 1.07 and a beta of 0.56.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 EPS for the quarter, topping analysts' consensus estimates of $6.54 by $0.25. The Cigna Group had a return on equity of 13.59% and a net margin of 2.64%. The company had revenue of $51.15 billion during the quarter, compared to analysts' expectations of $48.91 billion. During the same quarter in the previous year, the firm earned $4.96 EPS. The Cigna Group's revenue was up 11.8% on a year-over-year basis. As a group, analysts anticipate that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. This is a boost from The Cigna Group's previous quarterly dividend of $1.23. The Cigna Group's payout ratio is 32.20%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CI. Mizuho lifted their price target on The Cigna Group from $360.00 to $370.00 and gave the stock a "buy" rating in a report on Monday, February 5th. Cantor Fitzgerald reissued an "overweight" rating and set a $384.00 price target on shares of The Cigna Group in a report on Wednesday, April 10th. Oppenheimer reissued an "outperform" rating and set a $360.00 price target on shares of The Cigna Group in a report on Wednesday, January 17th. Morgan Stanley reissued an "overweight" rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised The Cigna Group from a "hold" rating to a "buy" rating and lifted their price target for the stock from $355.00 to $370.00 in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group has an average rating of "Buy" and a consensus target price of $362.14.

The 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.