Ameriprise Financial Inc. Has $658.80 Million Stock Position in Cigna Group $CI

Key Points

• Ameriprise Financial Inc. increased its stake in Cigna Group by 8.2%, acquiring 151,798 additional shares during the first quarter, valuing its total holdings at approximately $658.8 million.
• Wall Street analysts have mixed outlooks for Cigna, with a consensus rating of "Buy" and a price target of $374.82, while Barclays and Wells Fargo recently adjusted their price objectives to $354 and $340, respectively.
• Cigna Group announced a quarterly dividend of $1.51 per share, with an annualized yield of 2.0%, scheduled for payment to stockholders of record on September 4th.

Ameriprise Financial Inc. increased its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,002,208 shares of the health services provider's stock after buying an additional 151,798 shares during the quarter. Ameriprise Financial Inc. owned 0.75% of Cigna Group worth $658,795,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norinchukin Bank The lifted its position in shares of Cigna Group by 14.8% during the 1st quarter. Norinchukin Bank The now owns 15,259 shares of the health services provider's stock worth $5,020,000 after buying an additional 1,969 shares during the last quarter. CW Advisors LLC lifted its position in shares of Cigna Group by 7.9% during the 1st quarter. CW Advisors LLC now owns 21,140 shares of the health services provider's stock worth $6,951,000 after buying an additional 1,543 shares during the last quarter. Summit Financial LLC lifted its position in shares of Cigna Group by 32.0% during the 1st quarter. Summit Financial LLC now owns 2,778 shares of the health services provider's stock worth $914,000 after buying an additional 674 shares during the last quarter. United Asset Strategies Inc. lifted its position in shares of Cigna Group by 6.3% during the 1st quarter. United Asset Strategies Inc. now owns 47,732 shares of the health services provider's stock worth $15,704,000 after buying an additional 2,808 shares during the last quarter. Finally, Kaufman Rossin Wealth LLC bought a new stake in shares of Cigna Group during the 1st quarter worth $203,000. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the transaction, the insider directly owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by company insiders.

Cigna Group Trading Down 1.2%

Cigna Group stock traded down $3.5230 during trading hours on Monday, hitting $300.8270. The stock had a trading volume of 1,051,850 shares, compared to its average volume of 1,842,801. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock has a market cap of $80.30 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 0.89 and a beta of 0.47. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The business's 50 day simple moving average is $300.91 and its 200-day simple moving average is $311.69.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same period last year, the company earned $6.72 earnings per share. The firm's revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is 32.97%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial upped their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Wells Fargo & Company dropped their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Guggenheim restated a "buy" rating and set a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Finally, Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Cigna Group currently has an average rating of "Buy" and a consensus price target of $374.82.

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.