Caisse DE Depot ET Placement DU Quebec Acquires 112,119 Shares of Cigna Group $CI

Key Points

• Caisse DE Depot ET Placement DU Quebec significantly increased its stake in Cigna Group by 523.1%, acquiring 112,119 shares, bringing its total to 133,551 shares worth approximately $43.9 million.
• Analysts have mixed sentiments on Cigna Group, with Barclays lowering the price target from $385 to $354 while Truist Financial raised theirs from $385 to $405, indicating differing growth expectations for the stock.
• Cigna Group reported strong earnings, with $7.20 EPS exceeding estimates, and announced a quarterly dividend of $1.51, representing a 2.0% yield.

Caisse DE Depot ET Placement DU Quebec boosted its holdings in Cigna Group (NYSE:CI - Free Report) by 523.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,551 shares of the health services provider's stock after acquiring an additional 112,119 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Cigna Group were worth $43,938,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after buying an additional 318 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Cigna Group during the fourth quarter valued at $1,068,000. Quarry LP boosted its stake in shares of Cigna Group by 111.5% in the 4th quarter. Quarry LP now owns 385 shares of the health services provider's stock valued at $106,000 after purchasing an additional 203 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Cigna Group by 5.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 769,035 shares of the health services provider's stock worth $212,361,000 after purchasing an additional 39,783 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Cigna Group by 11.7% during the 4th quarter. Northern Trust Corp now owns 3,140,201 shares of the health services provider's stock worth $867,135,000 after purchasing an additional 328,320 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CI shares. Barclays decreased their price objective on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Wall Street Zen cut Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Cantor Fitzgerald reissued an "overweight" rating and issued a $365.00 price objective on shares of Cigna Group in a research note on Tuesday. Truist Financial raised their target price on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company reduced their price target on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $374.82.

Insider Activity

In related news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.70% of the stock is owned by corporate insiders.

Cigna Group Stock Performance

Shares of NYSE:CI opened at $300.38 on Wednesday. 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 has a 1-year low of $256.89 and a 1-year high of $370.83. The stock has a market capitalization of $80.18 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.88 and a beta of 0.47. The business has a 50-day moving average price of $300.40 and a two-hundred day moving average price of $311.71.

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

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group's dividend payout ratio is 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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