Comerica Bank Sells 2,311 Shares of Cigna Group $CI

Key Points

• Comerica Bank reduced its holdings in Cigna Group by 3.6%, selling 2,311 shares during the first quarter, bringing its total to 61,319 shares valued at approximately $20.17 million.
• Research analysts have varied opinions on Cigna Group, with Barclays decreasing the price target to $354 while Piper Sandler increased theirs to $374, but the stock has a consensus rating of Buy.
• Cigna Group has declared a quarterly dividend of $1.51 per share, expected to be paid on September 18th, which represents an annualized yield of 2.0%.

Comerica Bank lowered its stake in Cigna Group (NYSE:CI - Free Report) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,319 shares of the health services provider's stock after selling 2,311 shares during the period. Comerica Bank's holdings in Cigna Group were worth $20,174,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of CI. Putney Financial Group LLC bought a new stake in Cigna Group in the 4th quarter worth $36,000. Evermay Wealth Management LLC grew its holdings in Cigna Group by 58.6% in the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after acquiring an additional 41 shares during the last quarter. Richardson Financial Services Inc. bought a new stake in Cigna Group in the 1st quarter worth $38,000. Wayfinding Financial LLC bought a new stake in Cigna Group in the 1st quarter worth $40,000. Finally, Ameriflex Group Inc. purchased a new stake in Cigna Group in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Transactions at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares in the company, valued at $7,694,400. The trade was 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 through this link. 0.70% of the stock is currently owned by insiders.

Cigna Group Stock Up 0.8%

Shares of CI traded up $2.39 during trading hours on Friday, hitting $301.39. The company had a trading volume of 1,588,821 shares, compared to its average volume of 1,894,241. The stock has a market capitalization of $80.45 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.88 and a beta of 0.47. The firm has a fifty day moving average price of $299.56 and a 200-day moving average price of $311.85. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $1.51 dividend. 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 payout ratio is presently 32.97%.

Wall Street Analyst Weigh In

CI has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price target on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $365.00 price target on shares of Cigna Group in a research note on Tuesday, August 26th. Guggenheim reissued a "buy" rating and issued a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Piper Sandler increased their target price on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Barclays decreased their target price on Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. 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 company's stock. According to data from MarketBeat, Cigna Group has an average rating of "Buy" and a consensus 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.