The Cigna Group (NYSE:CI) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its position in The Cigna Group (NYSE:CI) by 43.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 148,436 shares of the health services provider’s stock after acquiring an additional 44,659 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The Cigna Group were worth $44,449,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on CI shares. Mizuho boosted their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $355.00 to $370.00 in a research note on Thursday, February 1st. Oppenheimer reiterated an “outperform” rating and set a $360.00 price objective on shares of The Cigna Group in a research note on Wednesday, January 17th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Finally, Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $330.00 to $372.00 in a research note on Thursday, January 4th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus price target of $362.14.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the sale, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 38,065 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $335.22, for a total transaction of $12,760,149.30. Following the sale, the chief executive officer now directly owns 329,321 shares in the company, valued at $110,394,985.62. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock valued at $39,296,330 over the last ninety days. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Trading Down 0.6 %

NYSE CI opened at $346.79 on Wednesday. The company’s fifty day simple moving average is $347.42 and its 200-day simple moving average is $314.57. The Cigna Group has a 52 week low of $240.50 and a 52 week high of $365.71. 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 stock has a market cap of $101.39 billion, a P/E ratio of 19.94, a PEG ratio of 1.07 and a beta of 0.56.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.54 by $0.25. The firm had revenue of $51.15 billion for the quarter, compared to analysts’ expectations of $48.91 billion. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.96 earnings per share. Equities research analysts predict that The Cigna Group will post 28.36 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Wednesday, March 6th were issued a $1.40 dividend. The ex-dividend date was Tuesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 annualized dividend and a yield of 1.61%. The Cigna Group’s dividend payout ratio is currently 32.20%.

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.