Cigna Group $CI Stock Position Decreased by Credit Agricole S A

Key Points

• Credit Agricole S A reduced its stake in Cigna Group by 39.3% during the first quarter, holding a total of 36,585 shares valued at approximately $12 million.
• Insider sales saw Nicole S. Jones selling 28,526 shares, which amounted to $8.56 million, leading to a 52.66% decrease in her ownership of the stock.
• Cigna Group reported earnings of $7.20 per share for the last quarter, exceeding expectations, with projected earnings per share of $29.77 for the current fiscal year.

Credit Agricole S A lessened its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 39.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,585 shares of the health services provider's stock after selling 23,650 shares during the period. Credit Agricole S A's holdings in Cigna Group were worth $12,036,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Legacy Financial Advisors Inc. grew its position in shares of Cigna Group by 2.9% during the 1st quarter. Legacy Financial Advisors Inc. now owns 1,400 shares of the health services provider's stock valued at $461,000 after buying an additional 39 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc bought a new position in Cigna Group in the 1st quarter worth about $252,000. Wellington Management Group LLP grew its position in Cigna Group by 210.3% in the 1st quarter. Wellington Management Group LLP now owns 52,347 shares of the health services provider's stock worth $17,222,000 after purchasing an additional 35,478 shares during the last quarter. Qtron Investments LLC grew its position in Cigna Group by 58.7% in the 1st quarter. Qtron Investments LLC now owns 4,052 shares of the health services provider's stock worth $1,333,000 after purchasing an additional 1,498 shares during the last quarter. Finally, Alpha Family Trust bought a new position in Cigna Group in the 1st quarter worth about $215,000. Institutional investors own 86.99% of the company's stock.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred 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 directly owned 25,648 shares of the company's stock, valued at $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 is available at the SEC website. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CI has been the subject of several recent analyst reports. Piper Sandler upped their target price on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen cut shares of Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a research report on Thursday, June 26th. Barclays decreased their target price on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Finally, Truist Financial upped their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $374.82.

Cigna Group Trading Up 0.8%

Shares of NYSE:CI opened at $304.49 on Thursday. The company has a 50 day moving average of $301.44 and a 200-day moving average of $311.25. The firm has a market cap of $81.28 billion, a P/E ratio of 16.62, a P/E/G ratio of 0.88 and a beta of 0.47. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, 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 will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group's dividend payout ratio is currently 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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