Cigna Group $CI Stake Reduced by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in Cigna Group by 1.7%, now owning about 0.05% of the company, which is valued at approximately $47 million.
• Wall Street analysts are bullish on Cigna Group, with several firms assigning a buy or strong-buy rating, and average price targets suggesting considerable upside from its current price.
• Cigna Group reported a quarterly revenue of $67.13 billion, significantly exceeding analysts' expectations, and declared a quarterly dividend of $1.51, equating to a 2.0% yield.

Chevy Chase Trust Holdings LLC cut its holdings in Cigna Group (NYSE:CI - Free Report) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,564 shares of the health services provider's stock after selling 2,399 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of Cigna Group worth $47,129,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Family Legacy Inc. raised its position in Cigna Group by 0.5% in the first 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 in the last quarter. Impact Investors Inc raised its position in 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 acquiring an additional 31 shares in the last quarter. Westend Capital Management LLC raised its position in Cigna Group by 8.1% in the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock worth $140,000 after acquiring an additional 32 shares in the last quarter. Financial Network Wealth Advisors LLC raised its holdings in Cigna Group by 26.8% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 161 shares of the health services provider's stock worth $53,000 after buying an additional 34 shares during the period. Finally, Central Pacific Bank Trust Division raised its holdings in Cigna Group by 1.0% during the 2nd quarter. Central Pacific Bank Trust Division now owns 3,440 shares of the health services provider's stock worth $1,137,000 after buying an additional 35 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Weiss Ratings restated a "hold (c+)" rating on shares of Cigna Group in a report on Wednesday, October 8th. The Goldman Sachs Group assumed coverage on Cigna Group in a report on Tuesday. They set a "buy" rating and a $370.00 price objective on the stock. Finally, TD Cowen upgraded Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Cigna Group has an average rating of "Moderate Buy" and an average target price of $369.89.

Insider Activity at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction that occurred 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 sale, the insider owned 25,648 shares of the company's stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian C. Evanko sold 5,368 shares of the business's stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the sale, the insider directly owned 51,182 shares of the company's stock, valued at approximately $15,354,600. The trade was a 9.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Cigna Group Trading Up 3.0%

NYSE:CI opened at $299.81 on Friday. 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 fifty-two week low of $256.89 and a fifty-two week high of $353.55. The stock's 50-day moving average is $297.27 and its two-hundred day moving average is $308.29. The stock has a market cap of $80.03 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 0.85 and a beta of 0.45.

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 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 business posted $6.72 EPS. The business'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. As a group, equities research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

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

Cigna Group 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.

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