Vontobel Holding Ltd. Acquires 2,989 Shares of The Cigna Group (NYSE:CI)

Vontobel Holding Ltd. raised its holdings in shares of The Cigna Group (NYSE:CI) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,444 shares of the health services provider’s stock after acquiring an additional 2,989 shares during the quarter. Vontobel Holding Ltd.’s holdings in The Cigna Group were worth $8,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Capital Asset Advisory Services LLC raised its stake in The Cigna Group by 2.3% during the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after acquiring an additional 29 shares during the period. Checchi Capital Advisers LLC raised its position in shares of The Cigna Group by 0.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after purchasing an additional 31 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of The Cigna Group by 1.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock valued at $729,000 after buying an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in The Cigna Group by 10.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after buying an additional 32 shares during the period. Finally, Capital Investment Advisors LLC increased its stake in The Cigna Group by 2.9% in the 2nd quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock worth $371,000 after buying an additional 32 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Tuesday, October 1st. Piper Sandler initiated coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 target price on the stock. Finally, StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $392.79.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the transaction, the director now owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by insiders.

The Cigna Group Price Performance

NYSE:CI opened at $353.12 on Friday. The firm has a market capitalization of $100.31 billion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.05 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $350.67 and a 200-day simple moving average of $344.62. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.42 by $0.30. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. During the same period last year, the company earned $6.13 earnings per share. The Cigna Group’s revenue was up 24.6% on a year-over-year basis. Equities analysts forecast that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.98%.

The Cigna Group 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.