Cigna Group $CI Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Cigna Group by 35.9%, selling 152,043 shares and retaining 271,060 shares by the end of the quarter.
• Cigna Group's recent earnings report indicated $7.20 EPS, exceeding estimates, with revenue of $67.13 billion, an 11% increase year-over-year.
• A quarterly dividend of $1.51 per share has been declared, representing a 2.0% yield based on an annualized payout of $6.04.

Canada Pension Plan Investment Board reduced its stake in Cigna Group (NYSE:CI - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 271,060 shares of the health services provider's stock after selling 152,043 shares during the quarter. Canada Pension Plan Investment Board owned 0.10% of Cigna Group worth $89,179,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Parnassus Investments LLC increased its position in shares of Cigna Group by 3.1% during the first quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider's stock worth $949,357,000 after acquiring an additional 86,602 shares during the period. WPG Advisers LLC purchased a new stake in Cigna Group during the 1st quarter worth about $40,000. Tri Locum Partners LP increased its holdings in Cigna Group by 81.1% during the 1st quarter. Tri Locum Partners LP now owns 73,905 shares of the health services provider's stock worth $24,315,000 after purchasing an additional 33,095 shares during the period. Lansforsakringar Fondforvaltning AB publ increased its holdings in Cigna Group by 27.5% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 3,474 shares of the health services provider's stock worth $1,143,000 after purchasing an additional 750 shares during the period. Finally, Northstar Financial Companies Inc. acquired a new stake in shares of Cigna Group in the 1st quarter valued at $234,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction on Friday, August 15th. The shares were 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 of the company's stock, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CI shares. Wall Street Zen lowered shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Guggenheim restated a "buy" rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $374.76.

Cigna Group Stock Performance

Cigna Group stock traded up $4.27 during midday trading on Thursday, hitting $303.24. 438,899 shares of the company's stock were exchanged, compared to its average volume of 1,827,471. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. 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 stock has a market cap of $80.94 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 0.88 and a beta of 0.48. The firm's 50 day simple moving average is $298.61 and its 200 day simple moving average is $311.83.

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

Cigna Group Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 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.