Cigna Group $CI Stock Position Decreased by Ethic Inc.

Key Points

• Ethic Inc. reduced its holdings in Cigna Group by 34.7%, owning 32,470 shares valued at approximately $10.7 million after selling 17,242 shares during the first quarter.
• Several institutional investors, including Brighton Jones LLC and Mariner LLC, increased their stakes in Cigna Group, reflecting a strong investment interest as institutional investors own 86.99% of the company's stock.
• Research firms are bullish on Cigna Group, with Piper Sandler and Morgan Stanley raising their price targets to $374.00 and $390.00 respectively, while the stock maintains a consensus rating of "Moderate Buy" with an average target of $378.33.

Ethic Inc. lessened its stake in Cigna Group (NYSE:CI - Free Report) by 34.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,470 shares of the health services provider's stock after selling 17,242 shares during the quarter. Ethic Inc.'s holdings in Cigna Group were worth $10,748,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CI. Horizon Investments LLC boosted its stake in Cigna Group by 3.3% during the 1st quarter. Horizon Investments LLC now owns 5,012 shares of the health services provider's stock valued at $1,649,000 after purchasing an additional 162 shares during the last quarter. English Capital Management LLC increased its stake in shares of Cigna Group by 9.3% during the first quarter. English Capital Management LLC now owns 22,506 shares of the health services provider's stock valued at $7,404,000 after buying an additional 1,920 shares during the period. Cookson Peirce & Co. Inc. increased its position in shares of Cigna Group by 13.7% during the first quarter. Cookson Peirce & Co. Inc. now owns 2,818 shares of the health services provider's stock valued at $927,000 after buying an additional 340 shares during the period. OneAscent Investment Solutions LLC purchased a new stake in Cigna Group in the first quarter worth $340,000. Finally, Vestmark Advisory Solutions Inc. purchased a new stake in shares of Cigna Group during the first quarter valued at approximately $218,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of recent research reports. Truist Financial boosted their price target on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. 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 upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a report on Thursday, August 14th. Finally, Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $378.33.

Cigna Group Trading Up 1.3%

Cigna Group stock traded up $3.8750 during midday trading on Tuesday, reaching $302.1950. 1,481,893 shares of the stock traded hands, compared to its average volume of 1,859,390. The company has a 50-day simple moving average of $301.79 and a two-hundred day simple moving average of $311.36. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The firm has a market cap of $80.66 billion, a PE ratio of 16.50, a price-to-earnings-growth ratio of 0.87 and a beta of 0.47. 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 earnings results 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. The business had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The business's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 32.97%.

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.