Kovitz Investment Group Partners LLC Sells 28,486 Shares of Cigna Group $CI

Key Points

• Kovitz Investment Group Partners LLC has reduced its stake in Cigna Group by 61.9%, now owning 17,566 shares valued at approximately $5.78 million after selling 28,486 shares in the first quarter.
• Cigna Group reported earnings per share (EPS) of $7.20 for the last quarter, exceeding analysts' expectations of $7.15, with revenue totaling $67.13 billion.
• The company declared a quarterly dividend of $1.51 per share, translating to an annualized dividend of $6.04 and a dividend yield of 2.0%.

Kovitz Investment Group Partners LLC reduced its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 61.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,566 shares of the health services provider's stock after selling 28,486 shares during the period. Kovitz Investment Group Partners LLC's holdings in Cigna Group were worth $5,779,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CI. Putney Financial Group LLC bought a new position in Cigna Group in the 4th quarter worth $36,000. Evermay Wealth Management LLC increased its position in Cigna Group by 58.6% in the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after buying an additional 41 shares in the last quarter. Transce3nd LLC purchased a new stake in Cigna Group in the fourth quarter worth about $38,000. Richardson Financial Services Inc. bought a new position in shares of Cigna Group in the first quarter worth about $38,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Cigna Group during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Price Performance

NYSE CI traded down $3.5750 during trading on Thursday, hitting $300.9950. 624,226 shares of the stock traded hands, compared to its average volume of 1,849,585. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The firm has a 50-day simple moving average of $301.44 and a 200-day simple moving average of $311.25. The company has a market capitalization of $80.34 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 0.88 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm earned $6.72 EPS. The company'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, analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 32.97%.

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Guggenheim reissued a "buy" rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Truist Financial raised their price target on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Cowen reiterated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $374.82.

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.