Atria Wealth Solutions Inc. Trims Stock Position in Cigna Group $CI

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Cigna Group by 59.6%, owning 2,089 shares worth approximately $685,000.
• Insider transactions included Nicole S. Jones selling 28,526 shares for $8.56 million, reducing her position by 52.66%.
• Cigna Group reported a 11.0% increase in quarterly revenue year-over-year, with earnings of $7.20 per share, slightly surpassing estimates.

Atria Wealth Solutions Inc. lowered its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 59.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,089 shares of the health services provider's stock after selling 3,087 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Cigna Group were worth $685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CI. Valeo Financial Advisors LLC increased its position in shares of Cigna Group by 86,071.1% during 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 purchasing an additional 3,471,249 shares during the last quarter. Nuveen LLC bought a new position in shares of Cigna Group during the 1st quarter valued at approximately $727,905,000. Price T Rowe Associates Inc. MD grew its stake in shares of Cigna Group by 10.0% during the 1st 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 acquiring an additional 1,094,327 shares during the period. GQG Partners LLC grew its stake 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 valued at $1,607,716,000 after acquiring an additional 865,092 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Cigna Group by 38.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider's stock valued at $542,796,000 after acquiring an additional 457,052 shares during the period. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred on 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 approximately $7,694,400. This represents a 52.66% decrease in their position. The transaction was disclosed in a legal 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 stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the transaction, the insider owned 51,182 shares of the company's stock, valued at $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CI shares. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Guggenheim reiterated a "buy" rating and set a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a research note on Tuesday, August 26th. Two research 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 company's stock. According to data from MarketBeat, Cigna Group currently has an average rating of "Moderate Buy" and a consensus target price of $369.89.

Cigna Group Trading Up 3.0%

CI stock opened at $299.81 on Friday. Cigna Group has a 1-year low of $256.89 and a 1-year high of $353.55. 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 $80.03 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.88 and a beta of 0.45. The business has a 50 day simple moving average of $297.27 and a two-hundred day simple moving average of $308.13.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping the consensus estimate of $7.15 by $0.05. The business 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 firm's revenue for the quarter 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. Research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were 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 was Thursday, September 4th. Cigna Group's dividend payout ratio is currently 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.

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