Dimensional Fund Advisors LP Has $797.07 Million Position in Cigna Group $CI

Key Points

• Dimensional Fund Advisors LP reduced its stake in Cigna Group by 1.1%, selling 27,499 shares and retaining 2,422,964 shares worth approximately $797 million.
• Cigna Group reported earnings per share (EPS) of $7.20 for the last quarter, exceeding analysts' expectations of $7.15 and reflecting an 11% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.51 per share, with a dividend yield of 2.1%, payable on September 18th to shareholders of record on September 4th.

Dimensional Fund Advisors LP lowered its holdings in Cigna Group (NYSE:CI - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,422,964 shares of the health services provider's stock after selling 27,499 shares during the period. Dimensional Fund Advisors LP owned about 0.91% of Cigna Group worth $797,067,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Putney Financial Group LLC bought a new position in shares of Cigna Group in the 4th quarter worth about $36,000. Evermay Wealth Management LLC raised its position 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 purchasing an additional 41 shares during the period. Transce3nd LLC acquired a new stake in shares of Cigna Group during the fourth quarter valued at approximately $38,000. Richardson Financial Services Inc. purchased a new stake in shares of Cigna Group in the first quarter valued at $38,000. Finally, Wayfinding Financial LLC purchased a new stake in Cigna Group in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research reports. Truist Financial lifted their target price on shares of 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 restated an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Robert W. Baird set a $372.00 target price on Cigna Group in a research report on Thursday, August 14th. Finally, Piper Sandler boosted their price target on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Cigna Group presently has an average rating of "Buy" and an average target price of $378.33.

Cigna Group Price Performance

CI traded up $3.8750 during midday trading on Tuesday, hitting $302.1950. The company had a trading volume of 1,480,570 shares, compared to its average volume of 1,857,207. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The company has a market capitalization of $80.66 billion, a PE ratio of 16.50, a P/E/G ratio of 0.87 and a beta of 0.47. 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 firm's 50-day simple moving average is $301.79 and its 200-day simple moving average is $311.36.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) 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 business had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter last year, the business earned $6.72 earnings per share. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. 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 (DPR) is 32.97%.

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.