AMF Tjanstepension AB Increases Stake in Cigna Group $CI

Key Points

• AMF Tjanstepension AB increased its stake in Cigna Group by 20.6%, acquiring 29,312 additional shares, making its total holdings approximately 171,530 shares valued at $56.7 million.
• Several hedge funds also boosted their investments in Cigna, with Price T Rowe Associates increasing its stake by 10% to over $3.9 billion.
• Analysts have set mixed price targets for Cigna, with Barclays raising theirs from $354 to $383 while Wells Fargo reduced theirs from $341 to $340.

AMF Tjanstepension AB lifted its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 20.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 171,530 shares of the health services provider's stock after purchasing an additional 29,312 shares during the period. AMF Tjanstepension AB owned about 0.06% of Cigna Group worth $56,725,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CI. Price T Rowe Associates Inc. MD grew its stake in shares of Cigna Group by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock valued at $3,966,690,000 after buying an additional 1,094,327 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Cigna Group by 0.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock valued at $3,834,493,000 after acquiring an additional 98,715 shares during the period. Dodge & Cox grew its position in Cigna Group by 1.3% during the 1st quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock worth $2,924,722,000 after acquiring an additional 117,125 shares during the last quarter. GQG Partners LLC increased its stake in Cigna Group by 21.5% in the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock worth $1,607,716,000 after purchasing an additional 865,092 shares during the period. Finally, Parnassus Investments LLC lifted its position in Cigna Group by 3.1% in the first quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider's stock valued at $949,357,000 after purchasing an additional 86,602 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday, August 14th. Barclays raised their price target on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research note on Thursday, August 14th. Truist Financial set a $375.00 target price on shares of Cigna Group in a report on Tuesday, September 2nd. Finally, Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $371.81.

Cigna Group Trading Up 4.8%

Shares of CI opened at $311.24 on Friday. Cigna Group has a 1-year low of $256.89 and a 1-year high of $358.88. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm's 50-day moving average price is $292.41 and its 200-day moving average price is $309.81. The firm has a market capitalization of $83.08 billion, a price-to-earnings ratio of 16.99, a PEG ratio of 0.87 and a beta of 0.45.

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

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 1.9%. Cigna Group's dividend payout ratio (DPR) is currently 32.97%.

Insider Activity at Cigna Group

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

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.

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