Envestnet Portfolio Solutions Inc. Sells 918 Shares of Cigna Group $CI

Key Points

• Envestnet Portfolio Solutions Inc. reduced its holdings in Cigna Group by 5.2%, selling 918 shares and retaining a total of 16,571 shares valued at approximately $5.48 million.
• Cigna Group's stock performance saw a 2.2% increase, with a current share price around $301.91 and a market capitalization of $80.59 billion.
• Analyst ratings show a consensus of “Moderate Buy” with a target price of $372.53, reflecting a mixed outlook amid recent upgrades and downgrades from various brokerages.

Envestnet Portfolio Solutions Inc. reduced its position in Cigna Group (NYSE:CI - Free Report) by 5.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 16,571 shares of the health services provider's stock after selling 918 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Cigna Group were worth $5,478,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Family Legacy Inc. increased its position in shares of Cigna Group by 0.5% during the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after buying an additional 31 shares during the period. Impact Investors Inc increased its position in shares of Cigna Group by 1.6% during the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after buying an additional 31 shares during the period. Mission Wealth Management LP increased its position in shares of Cigna Group by 1.5% during the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after buying an additional 32 shares during the period. Westend Capital Management LLC increased its position in shares of Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after buying an additional 32 shares during the period. Finally, Financial Network Wealth Advisors LLC increased its position in shares of Cigna Group by 26.8% during the first quarter. Financial Network Wealth Advisors LLC now owns 161 shares of the health services provider's stock valued at $53,000 after buying an additional 34 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CI. Wells Fargo & Company upped their price target on Cigna Group from $340.00 to $354.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 7th. TD Cowen raised Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Guggenheim reissued a "buy" rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Robert W. Baird set a $372.00 price objective on Cigna Group in a report on Thursday, August 14th. Finally, Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cigna Group has an average rating of "Moderate Buy" and a consensus target price of $372.53.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred 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 represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the sale, the insider directly owned 51,182 shares of the company's stock, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company's stock.

Cigna Group Stock Up 2.2%

Shares of CI opened at $301.91 on Wednesday. The firm has a market cap of $80.59 billion, a P/E ratio of 16.48, a P/E/G ratio of 0.87 and a beta of 0.45. The stock has a 50 day simple moving average of $295.86 and a two-hundred day simple moving average of $308.87. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 1 year low of $256.89 and a 1 year high of $358.88.

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 (EPS) for the quarter, topping the consensus estimate of $7.15 by $0.05. The business 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%.Cigna Group's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group's dividend payout ratio is 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.

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