Bank Julius Baer & Co. Ltd Zurich Lowers Stock Holdings in The Cigna Group (NYSE:CI)

Bank Julius Baer & Co. Ltd Zurich lessened its holdings in The Cigna Group (NYSE:CI) by 90.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,926 shares of the health services provider’s stock after selling 36,459 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in The Cigna Group were worth $1,176,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CI. Bogart Wealth LLC raised its stake in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after acquiring an additional 46 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of The Cigna Group during the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in shares of The Cigna Group during the 4th quarter worth approximately $29,000. VisionPoint Advisory Group LLC raised its stake in shares of The Cigna Group by 112.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after acquiring an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. raised its stake in shares of The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $354.41 on Friday. The firm has a market cap of $103.62 billion, a PE ratio of 20.38, a P/E/G ratio of 1.09 and a beta of 0.56. The Cigna Group has a twelve month low of $240.50 and a twelve month high of $365.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The business has a 50-day moving average price of $349.88 and a 200 day moving average price of $317.80.

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

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The Cigna Group’s payout ratio is 32.20%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CI shares. Deutsche Bank Aktiengesellschaft upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Oppenheimer restated an “outperform” rating and set a $360.00 price target 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. Cantor Fitzgerald restated an “overweight” rating and set a $384.00 price target on shares of The Cigna Group in a research note on Wednesday, April 10th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Two 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 MarketBeat, the company has an average rating of “Buy” and an average target price of $362.14.

Insider Buying and Selling

In related news, 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 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 accessible through the SEC website. In other The Cigna Group news, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred 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 $123,618,339.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is owned by company insiders.

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.