Corebridge Financial Inc. Sells 2,864 Shares of Cigna Group $CI

Key Points

• Corebridge Financial Inc. has reduced its holdings in Cigna Group by 4.5%, now owning 61,064 shares valued at approximately $20.1 million.
• Insider Nicole S. Jones sold 28,526 shares for around $8.56 million, representing a significant 52.66% decrease in her ownership.
• Cigna Group reported a quarterly earnings per share of $7.20, exceeding estimates, and declared a dividend of $1.51 per share to be paid on September 18th.

Corebridge Financial Inc. lowered its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 61,064 shares of the health services provider's stock after selling 2,864 shares during the period. Corebridge Financial Inc.'s holdings in Cigna Group were worth $20,090,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CI. Evermay Wealth Management LLC increased its position in Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock valued at $37,000 after purchasing an additional 41 shares during the period. Richardson Financial Services Inc. acquired a new stake in Cigna Group during the 1st quarter valued at approximately $38,000. Wayfinding Financial LLC acquired a new stake in Cigna Group during the 1st quarter valued at approximately $40,000. Putney Financial Group LLC acquired a new stake in Cigna Group during the 4th quarter valued at approximately $36,000. Finally, Ameriflex Group Inc. acquired a new stake in Cigna Group during the 4th quarter valued at approximately $44,000. Institutional investors own 86.99% of the company's stock.

Insider Buying and Selling at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the firm'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 owned 25,648 shares in the company, 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 filing with the SEC, which is accessible through this link. Company insiders own 0.70% of the company's stock.

Cigna Group Stock Up 0.8%

CI stock traded up $2.39 during midday trading on Friday, reaching $301.39. 1,588,821 shares of the company's stock traded hands, compared to its average volume of 1,894,241. The company has a market cap of $80.45 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.88 and a beta of 0.47. The firm's fifty day moving average price is $299.56 and its 200-day moving average price is $311.85. 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.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter in the previous year, the firm earned $6.72 earnings per share. Cigna Group'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. As a group, sell-side analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's payout ratio is 32.97%.

Analysts Set New Price Targets

A number of research firms have weighed in on CI. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Wells Fargo & Company cut their target price on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 14th. Cantor Fitzgerald reiterated an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Finally, Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $374.82.

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.