Edmond DE Rothschild Holding S.A. Reduces Stake in The Cigna Group (NYSE:CI)

Edmond DE Rothschild Holding S.A. lessened its stake in shares of The Cigna Group (NYSE:CI) by 31.9% during the 4th quarter, Holdings Channel reports. The fund owned 857 shares of the health services provider’s stock after selling 401 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in The Cigna Group were worth $237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CI. Geode Capital Management LLC increased its stake in The Cigna Group by 0.4% during the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock worth $2,021,563,000 after purchasing an additional 22,408 shares during the period. GQG Partners LLC raised its holdings in shares of The Cigna Group by 22.4% in the 4th 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 acquired a new position in shares of The Cigna Group during the fourth quarter worth $867,785,000. Amundi increased its holdings in The Cigna Group by 19.9% in the fourth quarter. Amundi now owns 2,254,050 shares of the health services provider’s stock valued at $628,579,000 after buying an additional 374,865 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in The Cigna Group by 3.4% in the fourth 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 Activity at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This trade represents a 30.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction 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 trade represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last 90 days. Company insiders own 0.70% of the company’s stock.

The Cigna Group Trading Up 0.3 %

Shares of CI stock opened at $332.09 on Thursday. The company has a market capitalization of $90.89 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The business’s 50 day moving average is $307.29 and its two-hundred day moving average is $313.13. The Cigna Group has a twelve month low of $262.03 and a twelve month 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 in the previous year, the business earned $6.79 earnings per share. Equities analysts forecast 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. Investors of record on Wednesday, March 5th were issued a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group’s dividend payout ratio is currently 49.35%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CI. Raymond James reaffirmed a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 29th. Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Oppenheimer lowered 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 report on Friday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price 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.