DnB Asset Management AS Cuts Stock Position in Cigna Group $CI

Key Points

• DnB Asset Management AS reduced its stake in Cigna Group by 14.3%, selling 18,648 shares, resulting in holdings valued at approximately $36.7 million.
• Several large investors, including Two Sigma Investments LP and SBI Securities Co. Ltd., increased their shares in Cigna Group, reflecting ongoing interest from institutional investors.
• Cigna Group announced a quarterly dividend of $1.51 per share, which will be paid on September 18th, representing an annual yield of 2.0%.

DnB Asset Management AS trimmed its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 14.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,553 shares of the health services provider's stock after selling 18,648 shares during the quarter. DnB Asset Management AS's holdings in Cigna Group were worth $36,701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its position in Cigna Group by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock worth $3,966,690,000 after buying an additional 1,094,327 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Cigna Group by 0.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock worth $3,834,493,000 after buying an additional 98,715 shares during the last quarter. Dodge & Cox increased its position in Cigna Group by 1.3% in the first quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock worth $2,924,722,000 after buying an additional 117,125 shares during the last quarter. GQG Partners LLC increased its position in Cigna Group by 21.5% in the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock worth $1,607,716,000 after buying an additional 865,092 shares during the last quarter. Finally, Parnassus Investments LLC increased its position in Cigna Group by 3.1% in the first quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider's stock worth $949,357,000 after buying an additional 86,602 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CI shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. Wells Fargo & Company decreased their target price on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Guggenheim reissued a "buy" rating and issued a $350.00 target price (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Robert W. Baird set a $372.00 price target on Cigna Group in a research report on Thursday, August 14th. Two equities 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. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $374.76.

Insider Transactions at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction on Friday, August 15th. The stock was 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 owned 25,648 shares of the company's stock, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company's stock.

Cigna Group Price Performance

NYSE:CI traded down $4.58 during trading hours on Monday, hitting $300.73. 1,208,914 shares of the company's stock traded hands, compared to its average volume of 1,826,934. The firm has a market cap of $80.27 billion, a P/E ratio of 16.42, a P/E/G ratio of 0.89 and a beta of 0.48. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The business's fifty day simple moving average is $297.68 and its two-hundred day simple moving average is $312.17. 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 (NYSE:CI - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $67.13 billion during 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 firm's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research 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 disclosed 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 (DPR) 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.