Baird Financial Group Inc. Purchases 3,720 Shares of Cigna Group $CI

Key Points

• Baird Financial Group Inc. has increased its stake in Cigna Group by 9.7% during the 1st quarter, now holding a total of 41,966 shares worth approximately $13.8 million.
• Insider Nicole S. Jones recently sold 28,526 shares of Cigna Group at an average price of $300, resulting in a significant 52.66% decrease in her position.
• Cigna Group reported better-than-expected earnings with a net revenue of $67.13 billion for the last quarter, surpassing estimates and showing an 11% year-over-year growth.

Baird Financial Group Inc. lifted its position in Cigna Group (NYSE:CI - Free Report) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,966 shares of the health services provider's stock after acquiring an additional 3,720 shares during the quarter. Baird Financial Group Inc.'s holdings in Cigna Group were worth $13,807,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nuveen LLC bought a new position in Cigna Group during the first quarter valued at about $727,905,000. GAMMA Investing LLC grew its position in Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after buying an additional 1,771,613 shares during the period. Price T Rowe Associates Inc. MD grew 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 valued at $3,966,690,000 after buying an additional 1,094,327 shares during the period. GQG Partners LLC grew its position in Cigna Group by 21.5% during the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock valued at $1,607,716,000 after buying an additional 865,092 shares during the period. Finally, Two Sigma Advisers LP grew its position in Cigna Group by 278.0% during the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock valued at $225,385,000 after buying an additional 600,300 shares during the period. Institutional investors own 86.99% of the company's stock.

Cigna Group Price Performance

CI traded down $1.75 on Monday, reaching $303.56. The company had a trading volume of 209,280 shares, compared to its average volume of 1,820,832. The business has a 50 day simple moving average of $297.68 and a 200 day simple moving average of $312.17. The company has a market cap of $81.03 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.89 and a beta of 0.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced 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 business had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders 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 yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 32.97%.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction that occurred on 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 owned 25,648 shares in the company, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Finally, Truist Financial set a $375.00 price objective on shares of Cigna Group in a report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $374.76.

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.