116,122 Cigna Group $CI Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of Cigna Group (NYSE:CI) by 70.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 280,939 shares of the health services provider’s stock after acquiring an additional 116,122 shares during the period. Pictet Asset Management Holding SA’s holdings in Cigna Group were worth $76,369,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Evercore Wealth Management LLC raised its position in Cigna Group by 2.8% in the first quarter. Evercore Wealth Management LLC now owns 1,301 shares of the health services provider’s stock valued at $347,000 after purchasing an additional 35 shares during the last quarter. Independence Bank of Kentucky grew its holdings in shares of Cigna Group by 2.6% during the second quarter. Independence Bank of Kentucky now owns 1,483 shares of the health services provider’s stock worth $409,000 after purchasing an additional 37 shares during the last quarter. West Family Investments Inc. increased its stake in shares of Cigna Group by 4.2% in the second quarter. West Family Investments Inc. now owns 919 shares of the health services provider’s stock valued at $253,000 after buying an additional 37 shares during the period. Maripau Wealth Management LLC increased its stake in shares of Cigna Group by 4.0% in the first quarter. Maripau Wealth Management LLC now owns 1,074 shares of the health services provider’s stock valued at $287,000 after buying an additional 41 shares during the period. Finally, Capital City Trust Co. FL increased its stake in shares of Cigna Group by 0.6% in the second quarter. Capital City Trust Co. FL now owns 6,380 shares of the health services provider’s stock valued at $1,759,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insiders Place Their Bets

In other Cigna Group news, insider Everett Neville sold 617 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the sale, the insider owned 5,053 shares of the company’s stock, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole S. Jones sold 2,677 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total value of $748,515.97. Following the sale, the insider owned 25,880 shares of the company’s stock, valued at approximately $7,236,306.80. The trade was a 9.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Cigna Group Stock Performance

NYSE:CI opened at $295.37 on Tuesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. Cigna Group has a fifty-two week low of $256.52 and a fifty-two week high of $318.05. The company has a 50 day simple moving average of $286.14 and a two-hundred day simple moving average of $282.27. The company has a market capitalization of $78.05 billion, a PE ratio of 13.04, a P/E/G ratio of 1.03 and a beta of 0.25.

Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, November 5th. The health services provider reported $7.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.52 by $0.46. The firm had revenue of $73.79 billion for the quarter, compared to the consensus estimate of $72.64 billion. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $7.83 EPS. Research analysts anticipate that Cigna Group will post 30.62 earnings per share for the current year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be given a dividend of $1.56 per share. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 annualized dividend and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio is 27.54%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CI shares. Raymond James Financial lowered shares of Cigna Group from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $350.00 to $320.00 in a report on Monday, August 3rd. Piper Sandler reissued an “overweight” rating on shares of Cigna Group in a report on Friday, October 23rd. Barclays upped their price target on shares of Cigna Group from $310.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday. Jefferies Financial Group downgraded shares of Cigna Group from a “buy” rating to a “hold” rating and dropped their price target for the company from $336.00 to $307.00 in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $337.00 price target on shares of Cigna Group in a report on Thursday, October 1st. Fourteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has an average rating of “Moderate Buy” and a consensus price target of $336.20.

About Cigna Group

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members.

Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.

The company serves customers in the United States and select international markets.