Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in The Cigna Group (NYSE:CI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of The Cigna Group (NYSE:CI) by 6.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 188,067 shares of the health services provider’s stock after purchasing an additional 11,991 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of The Cigna Group worth $51,933,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of CI. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group in the third quarter valued at about $37,000. Collier Financial purchased a new stake in shares of The Cigna Group in the fourth quarter valued at about $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at about $34,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group in the fourth quarter valued at about $37,000. Finally, Heck Capital Advisors LLC purchased a new stake in shares of The Cigna Group in the fourth quarter valued at about $53,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares in the company, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 26,527 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several analyst reports. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Oppenheimer reduced their price objective on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. UBS Group reduced their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Stephens reduced their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research note on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and an average target price of $372.31.

The Cigna Group Stock Performance

NYSE:CI opened at $326.87 on Tuesday. The firm has a 50 day simple moving average of $293.88 and a 200-day simple moving average of $317.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The firm has a market cap of $89.46 billion, a PE ratio of 26.71, a P/E/G ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter last year, the business posted $6.79 earnings per share. On average, equities analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

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.