Cigna Group $CI Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S sold 1,461 shares of Cigna Group, reducing its holdings by 9.1% in the first quarter, resulting in ownership of 14,602 shares valued at approximately $4.8 million.
• Cigna Group's earnings per share for the latest quarter was reported at $7.20, beating the consensus estimate of $7.15, with revenue increasing by 11% year-over-year to $67.13 billion.
• The company announced a quarterly dividend of $1.51, with an annualized yield of 2.0%, payable on September 18th to investors of record.

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,602 shares of the health services provider's stock after selling 1,461 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Cigna Group were worth $4,804,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after buying an additional 318 shares during the last quarter. Transce3nd LLC acquired a new stake in Cigna Group during the 4th quarter worth approximately $38,000. TD Waterhouse Canada Inc. grew its stake in shares of Cigna Group by 29.6% in the 4th quarter. TD Waterhouse Canada Inc. now owns 1,192 shares of the health services provider's stock valued at $329,000 after purchasing an additional 272 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in shares of Cigna Group by 0.5% in the fourth quarter. OneDigital Investment Advisors LLC now owns 10,496 shares of the health services provider's stock valued at $2,898,000 after purchasing an additional 56 shares during the period. Finally, IHT Wealth Management LLC increased its holdings in shares of Cigna Group by 28.1% in the fourth quarter. IHT Wealth Management LLC now owns 1,491 shares of the health services provider's stock valued at $412,000 after purchasing an additional 327 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CI shares. Piper Sandler increased their price target on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wells Fargo & Company cut their price objective on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Guggenheim reaffirmed a "buy" rating and issued a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $374.82.

Cigna Group Stock Performance

Shares of CI opened at $304.49 on Thursday. 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 $370.83. The company has a 50-day simple moving average of $301.44 and a 200-day simple moving average of $311.25. The company has a market capitalization of $81.28 billion, a PE ratio of 16.62, a P/E/G ratio of 0.88 and a beta of 0.47.

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 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 analyst estimates of $62.61 billion. During the same period in the prior year, the business posted $6.72 earnings per share. The firm's revenue for the quarter was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $1.51 dividend. 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%.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.70% of the company's stock.

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.

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