Cigna Group $CI Shares Sold 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 lessened its stake in shares of Cigna Group (NYSE:CI - Free Report) by 15.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Wedmont Private Capital grew its holdings in shares of Cigna Group by 34.4% in the second quarter. Wedmont Private Capital now owns 6,261 shares of the health services provider's stock worth $1,939,000 after acquiring an additional 1,603 shares during the period. Baader Bank Aktiengesellschaft lifted its position in shares of Cigna Group by 65.0% in the second quarter. Baader Bank Aktiengesellschaft now owns 1,236 shares of the health services provider's stock worth $406,000 after buying an additional 487 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Cigna Group by 2.2% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 37,686 shares of the health services provider's stock valued at $12,458,000 after purchasing an additional 817 shares during the period. KMG Fiduciary Partners LLC raised its position in Cigna Group by 4.3% during the second quarter. KMG Fiduciary Partners LLC now owns 10,667 shares of the health services provider's stock valued at $3,526,000 after purchasing an additional 439 shares during the period. Finally, Focus Financial Network Inc. raised its position in Cigna Group by 8.2% during the second quarter. Focus Financial Network Inc. now owns 2,143 shares of the health services provider's stock valued at $708,000 after purchasing an additional 162 shares during the period. Institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CI shares. Barclays upped their target price on Cigna Group from $354.00 to $383.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Wells Fargo & Company dropped their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 14th. TD Cowen raised Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada reissued an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Finally, Truist Financial set a $375.00 price objective on Cigna Group in a research note on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $371.81.

Cigna Group Stock Performance

Shares of NYSE CI traded down $3.60 during trading on Friday, reaching $290.16. 2,573,913 shares of the company traded hands, compared to its average volume of 1,328,766. The firm's fifty day simple moving average is $293.99 and its 200 day simple moving average is $311.56. The stock has a market cap of $77.45 billion, a P/E ratio of 15.84, a PEG ratio of 0.85 and a beta of 0.48. Cigna Group has a 12-month low of $256.89 and a 12-month high of $358.91. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

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

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, September 4th. Cigna Group's payout ratio is currently 32.97%.

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the business'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 transaction of $8,557,800.00. Following the transaction, the insider directly owned 25,648 shares in the company, valued at $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by corporate insiders.

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.