Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,420 Shares of The Cigna Group (NYSE:CI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of The Cigna Group (NYSE:CI) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,076 shares of the health services provider’s stock after purchasing an additional 2,420 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in The Cigna Group were worth $61,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. TruNorth Capital Management LLC bought a new position in The Cigna Group during the 2nd quarter worth $33,000. Ulland Investment Advisors LLC raised its stake in The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in The Cigna Group during the third quarter worth about $37,000. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group during the third quarter worth about $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in The Cigna Group during the second quarter worth about $66,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $336.55 on Thursday. The firm has a market cap of $93.61 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.51. The Cigna Group has a 52 week low of $253.95 and a 52 week high of $370.83. The firm’s fifty day moving average is $333.94 and its 200-day moving average is $338.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion for the quarter, compared to analyst estimates of $59.58 billion. During the same quarter in the previous year, the company posted $6.77 EPS. The business’s revenue was up 29.8% on a year-over-year basis. Sell-side analysts predict that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.66%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group upped their target price on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Royal Bank of Canada decreased their price target on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their target price on The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $394.64.

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.