Livforsakringsbolaget Skandia Omsesidigt Sells 4,700 Shares of Cigna Group $CI

Key Points

• Livforsakringsbolaget Skandia Omsesidigt reduced its holdings in Cigna Group by 31.3%, owning 10,317 shares worth approximately $3.41 million after selling 4,700 shares in the second quarter.
• Cigna Group reported a net margin of 1.92% and a revenue increase to $67.13 billion in its most recent quarterly earnings, exceeding analyst expectations.
• The company announced a quarterly dividend payment of $1.51 per share, yielding 2.1%, with a payout ratio currently at 32.97%.

Livforsakringsbolaget Skandia Omsesidigt cut its position in shares of Cigna Group (NYSE:CI - Free Report) by 31.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,317 shares of the health services provider's stock after selling 4,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Cigna Group were worth $3,410,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. IFM Investors Pty Ltd boosted its holdings in Cigna Group by 0.6% during the second quarter. IFM Investors Pty Ltd now owns 55,012 shares of the health services provider's stock valued at $18,186,000 after purchasing an additional 335 shares in the last quarter. Canoe Financial LP boosted its holdings in Cigna Group by 226.8% during the second quarter. Canoe Financial LP now owns 3,549 shares of the health services provider's stock valued at $1,173,000 after purchasing an additional 2,463 shares in the last quarter. YHB Investment Advisors Inc. boosted its holdings in Cigna Group by 98.5% during the second quarter. YHB Investment Advisors Inc. now owns 4,493 shares of the health services provider's stock valued at $1,485,000 after purchasing an additional 2,230 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in Cigna Group by 1.5% during the second quarter. Exchange Traded Concepts LLC now owns 3,468 shares of the health services provider's stock valued at $1,146,000 after purchasing an additional 51 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Cigna Group by 19.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 109,569 shares of the health services provider's stock valued at $35,035,000 after purchasing an additional 17,960 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CI. Wells Fargo & Company decreased their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday, August 14th. Guggenheim reaffirmed a "buy" rating and set a $350.00 price objective (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. TD Cowen raised Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. 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 analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Cigna Group presently has an average rating of "Buy" and a consensus price target of $371.81.

Insider Activity at Cigna Group

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 completion of the sale, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.70% of the company's stock.

Cigna Group Price Performance

Shares of CI traded up $3.28 on Tuesday, hitting $291.90. The company's stock had a trading volume of 455,662 shares, compared to its average volume of 1,797,872. 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 company has a 50 day moving average price of $293.71 and a 200 day moving average price of $311.30. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $358.88. The company has a market capitalization of $77.92 billion, a PE ratio of 15.92, a PEG ratio of 0.85 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last posted 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 firm had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter in the previous year, the company posted $6.72 EPS. Cigna Group's revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $1.51 per share. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. 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.