Swiss National Bank Sells 26,600 Shares of The Cigna Group (NYSE:CI)

Swiss National Bank decreased its holdings in The Cigna Group (NYSE:CI) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 925,501 shares of the health services provider’s stock after selling 26,600 shares during the quarter. Swiss National Bank’s holdings in The Cigna Group were worth $277,141,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Fisher Asset Management LLC lifted its position in shares of The Cigna Group by 17.6% during the 4th quarter. Fisher Asset Management LLC now owns 1,571 shares of the health services provider’s stock valued at $471,000 after buying an additional 235 shares in the last quarter. Summit Financial LLC bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $263,000. Searle & CO. bought a new position in shares of The Cigna Group during the fourth quarter worth $333,000. Concord Wealth Partners grew its stake in The Cigna Group by 38.5% during the fourth quarter. Concord Wealth Partners now owns 1,490 shares of the health services provider’s stock valued at $446,000 after acquiring an additional 414 shares in the last quarter. Finally, Essex Financial Services Inc. boosted its holdings in shares of The Cigna Group by 0.5% during the 4th quarter. Essex Financial Services Inc. now owns 9,707 shares of the health services provider’s stock valued at $2,907,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction 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 $694,668.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group 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 completion of the sale, the senior vice president now directly owns 2,102 shares in the company, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric P. Palmer sold 1,017 shares of the company’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 transaction of $340,959.42. Following the transaction, the insider now owns 45,564 shares in the company, valued at approximately $15,275,786.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,144 shares of company stock valued at $39,296,330. 0.60% of the stock is currently owned by insiders.

The Cigna Group Trading Down 0.9 %

NYSE:CI traded down $3.05 during midday trading on Friday, hitting $341.45. The stock had a trading volume of 2,413,542 shares, compared to its average volume of 1,593,263. The stock has a 50-day moving average of $350.82 and a 200 day moving average of $319.39. The company has a market capitalization of $99.83 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.09 and a beta of 0.57. The Cigna Group has a one year low of $240.50 and a one year 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 Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $57.25 billion during the quarter, compared to analysts’ expectations of $56.59 billion. During the same quarter in the prior year, the company earned $5.41 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that The Cigna Group will post 28.36 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s payout ratio is 32.20%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays began coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price target for the company. Sanford C. Bernstein upgraded shares of The Cigna Group from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $330.00 to $372.00 in a report on Thursday, January 4th. Wells Fargo & Company lifted their price target on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Oppenheimer upped their price objective on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded The Cigna Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $355.00 to $370.00 in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $366.14.

About The Cigna Group

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.