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

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of The Cigna Group (NYSE:CI) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,067 shares of the health services provider’s stock after buying an additional 11,991 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The Cigna Group were worth $51,933,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CI. Swedbank AB grew its stake in The Cigna Group by 26.6% during the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after buying an additional 119,681 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of The Cigna Group by 5.9% in the third quarter. Mesirow Financial Investment Management Inc. now owns 2,497 shares of the health services provider’s stock valued at $866,000 after purchasing an additional 139 shares during the period. Sigma Planning Corp boosted its stake in shares of The Cigna Group by 44.5% in the third quarter. Sigma Planning Corp now owns 3,089 shares of the health services provider’s stock valued at $1,070,000 after purchasing an additional 952 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of The Cigna Group in the third quarter valued at $563,000. Finally, Peregrine Asset Advisers Inc. boosted its stake in shares of The Cigna Group by 802.6% in the third quarter. Peregrine Asset Advisers Inc. now owns 7,501 shares of the health services provider’s stock valued at $2,599,000 after purchasing an additional 6,670 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CI has been the subject of several analyst reports. Oppenheimer decreased their target price 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. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Barclays decreased their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. UBS Group cut their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. 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 target on the stock. in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group has an average rating of “Buy” and an average price target of $372.31.

The Cigna Group Stock Up 1.8 %

Shares of NYSE:CI opened at $326.87 on Tuesday. The stock has a market capitalization of $89.46 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth 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 company’s fifty day moving average is $293.88 and its two-hundred day moving average is $317.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66.

The Cigna Group (NYSE:CI) last issued its earnings results 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 return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the firm earned $6.79 EPS. Equities analysts anticipate that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

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

Insider Transactions at The Cigna Group

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

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.