CX Institutional Cuts Position in Cigna Group $CI

Key Points

• CX Institutional reduced its holdings in Cigna Group by 4.8% in the second quarter, now owning 19,598 shares valued at approximately $6.48 million.
• Cigna Group reported $7.20 earnings per share for the latest quarter, exceeding analysts' expectations, and the company's revenue grew 11% year-over-year.
• The firm recently declared a quarterly dividend of $1.51 per share, representing an annualized yield of 2.1% with a payout ratio of 32.97%.

CX Institutional lowered its stake in Cigna Group (NYSE:CI - Free Report) by 4.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,598 shares of the health services provider's stock after selling 979 shares during the quarter. CX Institutional's holdings in Cigna Group were worth $6,479,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Family Legacy Inc. raised its holdings in Cigna Group by 0.5% in the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock worth $2,138,000 after acquiring an additional 31 shares during the last quarter. Impact Investors Inc raised its stake in shares of Cigna Group by 1.6% in the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock worth $650,000 after purchasing an additional 31 shares during the last quarter. Mission Wealth Management LP lifted its holdings in shares of Cigna Group by 1.5% during the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after purchasing an additional 32 shares in the last quarter. Westend Capital Management LLC lifted its holdings in shares of Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its position in shares of Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after buying an additional 34 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Cigna Group Price Performance

NYSE:CI traded down $1.40 during trading hours on Monday, hitting $288.97. 1,340,078 shares of the stock traded hands, compared to its average volume of 1,805,554. The company has a market cap of $77.13 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 0.85 and a beta of 0.48. Cigna Group has a 1 year low of $256.89 and a 1 year high of $358.88. The stock has a 50 day moving average price of $293.99 and a 200 day moving average price of $311.53. 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 (NYSE:CI - Get Free Report) last released its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $62.61 billion. During the same quarter in the previous year, the company earned $6.72 EPS. Cigna Group'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. Sell-side analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $1.51 dividend. 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 2.1%. Cigna Group's payout ratio is currently 32.97%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CI shares. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company cut their target price 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. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $371.81.

Insider Transactions at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction that occurred on 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 sale, the insider owned 25,648 shares in the company, valued at $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 available at the SEC website. 0.70% of the stock is currently owned by company insiders.

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.