Cigna Group $CI Shares Sold by Ameritas Advisory Services LLC

Key Points

• Ameritas Advisory Services LLC reduced its Cigna Group stake by 82.2%, selling 2,316 shares and ending up with 503 shares valued at $166,000 as of the last reporting period.
• Cigna Group reported $7.20 earnings per share for the latest quarter, exceeding estimates, with a revenue of $67.13 billion, up 11.0% year-over-year.
• The company declared a quarterly dividend of $1.51 per share, demonstrating a 2.0% yield and a payout ratio of 32.97%.

Ameritas Advisory Services LLC cut its stake in Cigna Group (NYSE:CI - Free Report) by 82.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503 shares of the health services provider's stock after selling 2,316 shares during the period. Ameritas Advisory Services LLC's holdings in Cigna Group were worth $166,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Flaharty Asset Management LLC bought a new stake in Cigna Group during the first quarter valued at $28,000. 1248 Management LLC bought a new stake in Cigna Group during the first quarter valued at $29,000. Activest Wealth Management increased its stake in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC increased its stake in Cigna Group by 74.1% during the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider's stock valued at $33,000 after purchasing an additional 43 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in Cigna Group during the first quarter valued at $36,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Performance

Shares of CI opened at $306.57 on Thursday. The firm has a 50-day moving average price of $293.11 and a 200 day moving average price of $309.52. The firm has a market capitalization of $81.83 billion, a PE ratio of 16.73, a P/E/G ratio of 0.90 and a beta of 0.45. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 52-week low of $256.89 and a 52-week high of $358.88.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $62.61 billion. During the same quarter last year, the firm posted $6.72 EPS. The business'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. On average, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed 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 of this dividend was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. Cigna Group's dividend payout ratio is currently 32.97%.

Analysts Set New Price Targets

CI has been the subject of several recent research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Wells Fargo & Company boosted their target price on shares of Cigna Group from $340.00 to $354.00 and gave the company an "equal weight" rating in a research note on Tuesday. Wall Street Zen lowered shares of Cigna Group from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Weiss Ratings restated a "hold (c+)" rating on shares of Cigna Group in a research report on Wednesday. Finally, Barclays upped their price target on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $372.69.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction dated 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 completion of the sale, the insider directly owned 25,648 shares of the company's stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of the company's stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the sale, the insider directly owned 51,182 shares of the company's stock, valued at $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.