Ascent Group LLC Trims Stock Position in Cigna Group $CI

Key Points

• Ascent Group LLC has reduced its stake in Cigna Group by 68.1%, now holding 1,803 shares valued at approximately $593,000.
• Several institutional investors, including Family Legacy Inc. and Westend Capital Management LLC, have increased their positions in Cigna Group, indicating ongoing confidence in the company's performance.
• Cigna Group announced a quarterly dividend of $1.51 per share, resulting in an annualized dividend of $6.04 and a yield of 2.0%.

Ascent Group LLC lowered its stake in shares of Cigna Group (NYSE:CI - Free Report) by 68.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,803 shares of the health services provider's stock after selling 3,849 shares during the period. Ascent Group LLC's holdings in Cigna Group were worth $593,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CI. Family Legacy Inc. increased its stake in shares of Cigna Group by 0.5% in the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after purchasing an additional 31 shares in the last quarter. Impact Investors Inc increased its stake in shares of Cigna Group by 1.6% in the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after purchasing an additional 31 shares in the last quarter. Mission Wealth Management LP increased its stake in shares of Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after purchasing an additional 32 shares in the last quarter. Westend Capital Management LLC increased its stake in shares of Cigna Group by 8.1% in the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division increased its stake in shares of Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CI shares. Guggenheim restated a "buy" rating and issued a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research report on Thursday, August 14th. Barclays upped their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Wells Fargo & Company cut their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Two 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 stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $374.76.

Cigna Group Price Performance

NYSE:CI opened at $302.35 on Thursday. Cigna Group has a 12 month low of $256.89 and a 12 month high of $370.83. The stock has a 50 day moving average of $296.08 and a two-hundred day moving average of $312.04. 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 has a market cap of $80.71 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 0.88 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last posted 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. The company had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.Cigna Group's quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

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

About 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.