Northern Trust Corp Sells 70,700 Shares of Cigna Group $CI

Key Points

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Northern Trust Corp reduced its stake in Cigna Group (NYSE:CI - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,069,501 shares of the health services provider's stock after selling 70,700 shares during the period. Northern Trust Corp owned approximately 1.15% of Cigna Group worth $1,009,866,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Evermay Wealth Management LLC boosted its stake in shares of Cigna Group by 58.6% in the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock valued at $37,000 after buying an additional 41 shares during the period. Richardson Financial Services Inc. bought a new stake in shares of Cigna Group in the first quarter valued at approximately $38,000. Wayfinding Financial LLC bought a new stake in shares of Cigna Group in the first quarter valued at approximately $40,000. Putney Financial Group LLC bought a new stake in shares of Cigna Group in the fourth quarter valued at approximately $36,000. Finally, Transce3nd LLC bought a new stake in shares of Cigna Group in the fourth quarter valued at approximately $38,000. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Trading Up 1.1%

Shares of Cigna Group stock traded up $3.1890 during trading on Friday, hitting $304.1390. The company's stock had a trading volume of 1,127,473 shares, compared to its average volume of 1,847,744. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The stock has a market cap of $81.18 billion, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 0.89 and a beta of 0.47. The stock has a 50-day moving average price of $301.16 and a two-hundred day moving average price of $311.31.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $62.61 billion. During the same quarter in the previous year, the firm posted $6.72 earnings per share. 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. Equities research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Truist Financial boosted their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Guggenheim restated a "buy" rating and set a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Two 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. According to data from MarketBeat.com, Cigna Group currently has a consensus rating of "Buy" and a consensus target price of $374.82.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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.