Pictet Asset Management Holding SA Has $92.42 Million Stock Position in The Cigna Group (NYSE:CI)

Pictet Asset Management Holding SA lifted its holdings in shares of The Cigna Group (NYSE:CI) by 31.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 334,686 shares of the health services provider’s stock after acquiring an additional 79,204 shares during the period. Pictet Asset Management Holding SA owned approximately 0.12% of The Cigna Group worth $92,420,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in The Cigna Group by 0.4% during the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after acquiring an additional 22,408 shares in the last quarter. GQG Partners LLC lifted its position in shares of The Cigna Group by 22.4% during the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider’s stock valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Norges Bank purchased a new position in The Cigna Group during the fourth quarter worth about $867,785,000. Amundi grew its position in The Cigna Group by 19.9% in the 4th quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock worth $628,579,000 after purchasing an additional 374,865 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in The Cigna Group by 3.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,977,758 shares of the health services provider’s stock valued at $546,138,000 after buying an additional 64,138 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $324.97 on Friday. The business’s fifty day moving average is $304.67 and its 200 day moving average is $313.78. The firm has a market cap of $88.94 billion, a price-to-earnings ratio of 26.55, a PEG ratio of 0.98 and a beta of 0.53. 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 has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) 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 in the previous year, the company earned $6.79 earnings per share. Research analysts predict 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 was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.86%. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio is presently 49.35%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays reduced their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Stephens reduced their price objective on 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. Wells Fargo & Company lowered their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and an average price target of $373.25.

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.