Cigna Group $CI Shares Acquired by Ascent Group LLC

Key Points

• Ascent Group LLC increased its stake in Cigna Group by 68.4% in the second quarter, owning a total of 3,037 shares valued at approximately $1,004,000.
• Cigna Group's stock saw a 4.8% increase recently, reaching an opening price of $311.24, with a market capitalization of $83.08 billion.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group, valuing the transaction at about $8.56 million, representing a 52.66% decrease in her ownership of the stock.

Ascent Group LLC increased its stake in Cigna Group (NYSE:CI - Free Report) by 68.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,037 shares of the health services provider's stock after acquiring an additional 1,234 shares during the quarter. Ascent Group LLC's holdings in Cigna Group were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CI. Modern Wealth Management LLC boosted its stake in Cigna Group by 91.3% during the 1st quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider's stock worth $1,030,000 after purchasing an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Cigna Group by 3.9% during the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider's stock worth $11,882,000 after acquiring an additional 1,357 shares during the last quarter. Acadian Asset Management LLC grew its stake in Cigna Group by 277.5% during the 1st quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider's stock valued at $2,718,000 after acquiring an additional 6,082 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Cigna Group in the 1st quarter worth approximately $431,000. Finally, NBC Securities Inc. purchased a new stake in shares of Cigna Group in the first quarter valued at approximately $123,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a research report on Friday. Guggenheim reissued a "buy" rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Truist Financial set a $375.00 price objective on shares of Cigna Group in a research report on Tuesday, September 2nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. Finally, Barclays increased their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $371.81.

Cigna Group Stock Up 4.8%

Cigna Group stock opened at $311.24 on Monday. The company has a market capitalization of $83.08 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.91 and a beta of 0.45. 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 fifty-two week low of $256.89 and a fifty-two week high of $358.88. The firm has a 50 day moving average price of $292.41 and a 200 day moving average price of $309.65.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping the consensus estimate 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 period last year, the business posted $6.72 earnings per share. The company's quarterly revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $1.51 per share. The ex-dividend date was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 1.9%. Cigna Group's dividend payout ratio is 32.97%.

Insider Activity

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 completion of the transaction, the insider owned 25,648 shares of the company's stock, valued at approximately $7,694,400. This trade 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 the SEC website. Corporate insiders own 0.70% of the company's stock.

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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