Amundi Sells 753,083 Shares of Cigna Group $CI

Key Points

• Amundi reduced its stake in Cigna Group by 33.4%, selling 753,083 shares, leaving it with approximately 1.5 million shares valued at $505,239,000.
• Cigna Group's latest quarterly earnings report revealed an EPS of $7.20, beating estimates of $7.15, with revenues of $67.13 billion, significantly exceeding projections of $62.61 billion.
• The company announced a quarterly dividend of $1.51, representing an annualized yield of 2.0% and a payout ratio of 32.97%.

Amundi lowered its position in Cigna Group (NYSE:CI - Free Report) by 33.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,500,967 shares of the health services provider's stock after selling 753,083 shares during the quarter. Amundi owned about 0.56% of Cigna Group worth $505,239,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. 1248 Management LLC purchased a new stake in Cigna Group in the 1st quarter worth about $29,000. Activest Wealth Management lifted its position in Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock worth $30,000 after buying an additional 72 shares during the last quarter. Putney Financial Group LLC bought a new position in Cigna Group during the fourth quarter valued at approximately $36,000. Saudi Central Bank purchased a new position in shares of Cigna Group during the first quarter worth approximately $36,000. Finally, Evermay Wealth Management LLC raised its stake in shares of Cigna Group by 58.6% during the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Trading Up 0.7%

Shares of Cigna Group stock traded up $2.01 during midday trading on Tuesday, reaching $302.90. 380,605 shares of the company's stock traded hands, compared to its average volume of 1,818,373. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $80.85 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 0.89 and a beta of 0.48. The stock has a 50 day moving average of $297.09 and a 200-day moving average of $312.18. Cigna Group has a 12 month low of $256.89 and a 12 month 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 EPS for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $1.51 dividend. The ex-dividend date 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%.

Analyst Upgrades and Downgrades

CI has been the topic of several research reports. Guggenheim reissued a "buy" rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Barclays lifted their price target on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Royal Bank Of Canada reissued an "outperform" rating and set 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 set a $365.00 price target on shares of Cigna Group in a research note on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Cigna Group presently has a consensus rating of "Buy" and an average target price of $374.76.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

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.