Cigna Group $CI Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group increased its Cigna stake by 389.6% in the third quarter, adding 858,488 shares to hold 1,078,857 shares valued at about $283.9 million. Institutional investors and hedge funds collectively own 86.99% of Cigna.
• Cigna reported quarterly earnings of $7.98 per share, beating estimates of $7.52, and revenue of $73.79 billion, also ahead of forecasts; revenue rose 5.6% year over year. The company declared a $1.56 quarterly dividend, equivalent to a 2.1% yield.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $336.90. Recent target changes were mixed, while the article also notes two insiders sold shares under pre-arranged trading plans.

Aberdeen Group plc grew its stake in Cigna Group (NYSE:CI - Free Report) by 389.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,078,857 shares of the health services provider's stock after buying an additional 858,488 shares during the quarter. Aberdeen Group plc owned 0.41% of Cigna Group worth $283,907,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CI. Osbon Capital Management LLC acquired a new stake in shares of Cigna Group during the 2nd quarter worth about $26,000. Putney Financial Group LLC acquired a new stake in Cigna Group during the third quarter worth approximately $27,000. Johnson Financial Group Inc. purchased a new stake in shares of Cigna Group during the 2nd quarter worth approximately $29,000. Fiduciary Financial Advisors purchased a new stake in shares of Cigna Group during the 2nd quarter worth approximately $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Cigna Group in the 2nd quarter valued at $34,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Everett Neville sold 617 shares of Cigna Group stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the sale, the insider directly owned 5,053 shares in the company, valued at $1,435,304.65. The trade was a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 2,677 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total transaction of $748,515.97. Following the completion of the transaction, the insider directly owned 25,880 shares of the company's stock, valued at approximately $7,236,306.80. This represents a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by company insiders.

Key Cigna Group News

Here's some of the latest news about CI:

• Positive Sentiment: Wells Fargo raised its price target from $307; reports give different new targets of $325 and $335, while keeping an equal-weight rating. Jefferies also lifted its target from $288 to $304, but maintained a hold rating. Wells Fargo target report Wells Fargo alternate target report Jefferies target report
• Neutral Sentiment: Analyst sentiment remains moderately bullish overall, although coverage notes Cigna has lagged industry peers and the broader market. Analyst sentiment overview
• Negative Sentiment: Piper Sandler trimmed its target from $370 to $360, though it retained an overweight rating. Separately, CIBC cited the possibility of a tougher regulatory environment after the election as a risk for corporate America. Piper Sandler target revision CIBC election-related context

Cigna Group Stock Performance

CI opened at $296.79 on Friday. Cigna Group has a 1-year low of $257.85 and a 1-year high of $318.05. The stock has a market cap of $78.21 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.11 and a beta of 0.25. The stock's 50 day simple moving average is $287.53 and its 200 day simple moving average is $282.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.74 and a quick ratio of 0.74.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, November 5th. The health services provider reported $7.98 EPS for the quarter, topping analysts' consensus estimates of $7.52 by $0.46. The company had revenue of $73.79 billion for the quarter, compared to the consensus estimate of $72.64 billion. Cigna Group had a return on equity of 19.57% and a net margin of 2.09%. Cigna Group's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $7.83 earnings per share. As a group, equities analysts anticipate that Cigna Group will post 30.71 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd will be paid a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, December 3rd. Cigna Group's dividend payout ratio (DPR) is currently 27.54%.

Analysts Set New Price Targets

Several equities research analysts recently commented on CI shares. Royal Bank Of Canada reiterated an "outperform" rating and set a $337.00 price target on shares of Cigna Group in a research note on Thursday, October 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cigna Group in a report on Thursday, August 27th. Wells Fargo & Company lifted their target price on Cigna Group from $307.00 to $325.00 and gave the stock an "equal weight" rating in a research report on Friday. Barclays increased their price objective on Cigna Group from $310.00 to $320.00 and gave the company an "equal weight" rating in a report on Monday, November 9th. Finally, UBS Group restated a "buy" rating on shares of Cigna Group in a research report on Thursday, October 1st. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $336.90.

Cigna Group Company Profile

The Cigna Group is a global health services company that provides health insurance and related services through its Cigna Healthcare and Evernorth Health Services businesses. Cigna Healthcare offers medical, dental, behavioral health and other coverage and services to employers, individuals and government-program members. Evernorth provides pharmacy benefit management, specialty pharmacy, care delivery and other health services. Its offerings include prescription drug benefits and services for people with complex or chronic conditions.

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