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

Zurcher Kantonalbank Zurich Cantonalbank raised its position in The Cigna Group (NYSE:CI) by 43.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 148,436 shares of the health services provider’s stock after buying an additional 44,659 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of The Cigna Group worth $44,449,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased 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 buying an additional 46 shares in the last quarter. OFI Invest Asset Management purchased a new position in The Cigna Group in the third quarter valued at $26,000. Fortitude Family Office LLC purchased a new position in The Cigna Group in the fourth quarter valued at $29,000. Fairfield Bush & CO. purchased a new position in The Cigna Group in the second quarter valued at $28,000. Finally, VisionPoint Advisory Group LLC increased its holdings in The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other news, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total value of $11,084,500.53. Following the sale, the chief executive officer now directly 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 hyperlink. In other news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $335.26, for a total value of $340,959.42. Following the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani sold 31,209 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $355.17, for a total transaction of $11,084,500.53. Following the completion of the sale, the chief executive officer now directly owns 348,054 shares in the company, valued at $123,618,339.18. The disclosure for this sale can be found here. Insiders have sold 114,144 shares of company stock worth $39,296,330 in the last ninety days. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CI has been the topic of several research analyst reports. Mizuho lifted their target price on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Morgan Stanley reiterated an “overweight” rating and issued a $392.00 target price (up previously from $382.00) on shares of The Cigna Group in a research report on Monday, March 4th. Oppenheimer reiterated an “outperform” rating and issued a $360.00 target price on shares of The Cigna Group in a research report on Wednesday, January 17th. Royal Bank of Canada upgraded shares of The Cigna Group from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $327.00 to $354.00 in a research report on Monday, February 5th. Finally, Barclays assumed coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $362.14.

The Cigna Group Stock Performance

NYSE:CI opened at $346.79 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $101.39 billion, a price-to-earnings ratio of 19.94, a PEG ratio of 1.07 and a beta of 0.56. The company’s 50-day moving average is $347.42 and its two-hundred day moving average is $314.57. The Cigna Group has a 1-year low of $240.50 and a 1-year high of $365.71.

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

The Cigna Group Increases Dividend

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

The 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.