Asset Management One Co. Ltd. Sells 2,378 Shares of Cigna Group $CI

Key Points

• Asset Management One Co. Ltd. reduced its holdings in Cigna Group by 2.1% during the second quarter, trimming its stake to 112,977 shares, which are valued at approximately $37.35 million.
• Cigna Group reported a quarterly EPS of $7.20, exceeding analysts' expectations, with revenue of $67.13 billion, representing an 11% increase year-over-year.
• The company announced a quarterly dividend of $1.51 per share, reflecting an annualized yield of 2.0%, with the payment set for December 18th, 2023.

Asset Management One Co. Ltd. trimmed its position in Cigna Group (NYSE:CI - Free Report) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,977 shares of the health services provider's stock after selling 2,378 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Cigna Group were worth $37,348,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in 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 worth $3,966,690,000 after buying an additional 1,094,327 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of 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 worth $3,834,493,000 after acquiring an additional 98,715 shares during the period. Dodge & Cox increased its holdings in shares of 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 holdings in shares of Cigna Group by 21.5% during 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 acquiring an additional 865,092 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its stake in Cigna Group by 86,071.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider's stock valued at $1,148,859,000 after acquiring an additional 3,471,249 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Trading Down 1.1%

Shares of NYSE:CI opened at $301.84 on Friday. The business's 50 day simple moving average is $299.22 and its 200 day simple moving average is $307.66. Cigna Group has a 1 year low of $256.89 and a 1 year high of $350.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market capitalization of $80.57 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.89 and a beta of 0.45.

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

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group's dividend payout ratio is currently 32.97%.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the firm'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 transaction, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the transaction, the insider owned 51,182 shares of the company's stock, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CI shares. Wolfe Research reduced their price objective on shares of Cigna Group from $345.00 to $325.00 and set an "outperform" rating for the company in a research report on Wednesday, October 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. Wall Street Zen cut shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Cigna Group in a report on Friday. Finally, Robert W. Baird set a $372.00 target price on Cigna Group in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cigna Group presently has a consensus rating of "Moderate Buy" and an average price target of $369.89.

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.

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