Cigna Group $CI Holdings Decreased by Bath Savings Trust Co

Key Points

• Bath Savings Trust Co has reduced its stake in Cigna Group by 15.1%, owning 5,337 shares valued at approximately $1.76 million after selling 950 shares in Q2.
• Several hedge funds increased their holdings in Cigna during the first quarter, with Modern Wealth Management LLC boosting its stake by 91.3%.
• Cigna Group reported quarterly earnings of $7.20 per share, exceeding analysts' expectations, and announced a dividend of $1.51 per share to be paid on September 18th.

Bath Savings Trust Co cut its stake in Cigna Group (NYSE:CI - Free Report) by 15.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,337 shares of the health services provider's stock after selling 950 shares during the period. Bath Savings Trust Co's holdings in Cigna Group were worth $1,764,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Family Legacy Inc. raised its holdings in Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after buying an additional 31 shares during the period. Impact Investors Inc raised its holdings in Cigna Group by 1.6% in the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after buying an additional 31 shares during the period. Mission Wealth Management LP raised its holdings in Cigna Group by 1.5% in the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after buying an additional 32 shares during the period. Westend Capital Management LLC raised its holdings in Cigna Group by 8.1% in the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after buying an additional 32 shares during the period. Finally, Moody National Bank Trust Division raised its holdings in Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after buying an additional 34 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction 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 completion of the transaction, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Guggenheim reiterated a "buy" rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Truist Financial set a $375.00 price objective on shares of Cigna Group in a research note on Tuesday, September 2nd. Barclays lifted their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Cigna Group has an average rating of "Buy" and an average target price of $371.81.

Cigna Group Stock Down 1.2%

Shares of CI stock traded down $3.60 during mid-day trading on Friday, reaching $290.16. 2,573,913 shares of the company were exchanged, compared to its average volume of 1,328,766. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $358.91. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market capitalization of $77.45 billion, a P/E ratio of 15.84, a P/E/G ratio of 0.86 and a beta of 0.48. The business's 50 day simple moving average is $293.99 and its 200 day simple moving average is $311.54.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $62.61 billion. During the same quarter last year, the company earned $6.72 earnings per share. The business'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. Research analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group's payout ratio is currently 32.97%.

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.