Cigna Group $CI Shares Sold by Concurrent Investment Advisors LLC

Key Points

• Concurrent Investment Advisors cut its Cigna stake by 51.1% in the second quarter, selling 9,103 shares and retaining 8,699 shares valued at approximately $2.4 million. Institutional investors collectively own 86.99% of Cigna’s stock.
• Cigna shares opened at $276.12, down 2.3%, while the company reported quarterly EPS of $7.78, topping estimates, and revenue of $70.04 billion, up 6.7% year over year.
• Cigna declared a quarterly dividend of $1.56 per share, equivalent to $6.24 annually and a 2.3% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $339.45.

Concurrent Investment Advisors LLC decreased its holdings in Cigna Group (NYSE:CI - Free Report) by 51.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,699 shares of the health services provider's stock after selling 9,103 shares during the period. Concurrent Investment Advisors LLC's holdings in Cigna Group were worth $2,398,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CI. Wilkerson Advisory Group LLC purchased a new stake in shares of Cigna Group in the fourth quarter valued at approximately $25,000. Osbon Capital Management LLC purchased a new position in Cigna Group during the second quarter worth approximately $26,000. Cedar Mountain Advisors LLC lifted its position in Cigna Group by 161.9% during the first quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider's stock worth $29,000 after buying an additional 68 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in Cigna Group during the second quarter worth $29,000. Finally, Fiduciary Financial Advisors acquired a new position in Cigna Group during the second quarter worth $29,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Trading Down 2.3%

Shares of Cigna Group stock opened at $276.12 on Wednesday. The stock has a 50 day moving average of $283.56 and a 200 day moving average of $280.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $72.96 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.97 and a beta of 0.31. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $315.47.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, beating analysts' consensus estimates of $7.60 by $0.18. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%.The company had revenue of $70.04 billion for the quarter, compared to the consensus estimate of $70.14 billion. During the same quarter in the previous year, the business earned $7.20 earnings per share. The company's revenue for the quarter was up 6.7% on a year-over-year basis. Cigna Group has set its FY 2026 guidance at 30.450- EPS. As a group, research analysts predict that Cigna Group will post 30.51 earnings per share for the current year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 8th will be given a $1.56 dividend. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $6.24 dividend on an annualized basis and a yield of 2.3%. Cigna Group's dividend payout ratio is presently 25.82%.

Insiders Place Their Bets

In other news, insider Everett Neville sold 617 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the transaction, the insider directly owned 5,053 shares in the company, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $298.61, for a total transaction of $268,450.39. Following the transaction, the chief accounting officer directly owned 2,368 shares of the company's stock, valued at $707,108.48. The trade was a 27.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,629 shares of company stock valued at $6,561,809 over the last 90 days. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

CI has been the subject of several analyst reports. Morgan Stanley upped their target price on Cigna Group from $355.00 to $361.00 and gave the company an "overweight" rating in a report on Wednesday, May 20th. Wells Fargo & Company lifted their price target on Cigna Group from $305.00 to $307.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Wolfe Research reissued an "outperform" rating and set a $315.00 price target on shares of Cigna Group in a research report on Tuesday, June 16th. Robert W. Baird set a $362.00 price objective on shares of Cigna Group in a report on Friday, July 31st. Finally, Raymond James Financial cut shares of Cigna Group from a "strong-buy" rating to an "outperform" rating and cut their price objective for the stock from $350.00 to $320.00 in a research report on Monday, August 3rd. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $339.45.

Cigna Group Company Profile

The Cigna Group NYSE: CI is a global health services company that helps individuals, employers, health plans and government organizations access health care and related services. The company operates primarily through two businesses: Cigna Healthcare, which provides medical, behavioral health, dental and other health benefit products and services, and Evernorth Health Services, which offers pharmacy, care delivery and health benefits solutions.

Evernorth includes Express Scripts, a pharmacy benefit services provider that manages prescription drug benefits and operates home delivery and specialty pharmacy services.

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