Cigna Group $CI Shares Sold by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL reduced its stake in Cigna Group by 10.2%, selling 1,599 shares and now holding 14,127 shares valued at approximately $4.65 million.
• Cigna Group's recent earnings report showed revenue of $67.13 billion for the quarter, exceeding analyst estimates, while earnings per share came in at $7.20.
• The company announced a quarterly dividend of $1.51 to be paid on September 18th, reflecting an annual yield of 2.0% and a payout ratio of 32.97%.

Gamco Investors INC. ET AL cut its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 10.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,127 shares of the health services provider's stock after selling 1,599 shares during the period. Gamco Investors INC. ET AL's holdings in Cigna Group were worth $4,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC grew its stake in Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after purchasing an additional 318 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Cigna Group during the 4th quarter valued at approximately $1,068,000. Quarry LP grew its position in shares of Cigna Group by 111.5% during the fourth quarter. Quarry LP now owns 385 shares of the health services provider's stock worth $106,000 after buying an additional 203 shares in the last quarter. Voleon Capital Management LP bought a new stake in shares of Cigna Group in the fourth quarter worth $5,237,000. Finally, Eagle Strategies LLC bought a new stake in shares of Cigna Group in the fourth quarter worth $269,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Wells Fargo & Company reduced their price target on shares of 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. Barclays lowered their price objective on Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a report on Friday, August 1st. TD Cowen raised Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $374.82.

Cigna Group Trading Down 0.1%

NYSE:CI opened at $299.96 on Thursday. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The firm has a market capitalization of $80.07 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.88 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The business has a 50 day simple moving average of $300.11 and a 200 day simple moving average of $311.63.

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. The firm had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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 given a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group's dividend payout ratio (DPR) is currently 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 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 transaction, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. The trade was a 52.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by 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.

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