Erste Asset Management GmbH Has $21.54 Million Holdings in Cigna Group $CI

Key Points

• Erste Asset Management GmbH increased its holdings in Cigna Group by 28.6% during the first quarter, bringing their total stake to approximately $21.54 million.
• Corporate insiders collectively own 0.70% of Cigna Group's stock, and insider Nicole S. Jones recently sold 28,526 shares, reducing her stake by over 52%.
• Cigna Group's latest quarterly earnings report showed an EPS of $7.20, exceeding estimates and reflecting a 11% revenue increase compared to the previous year.

Erste Asset Management GmbH grew its stake in Cigna Group (NYSE:CI - Free Report) by 28.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,158 shares of the health services provider's stock after buying an additional 14,694 shares during the period. Erste Asset Management GmbH's holdings in Cigna Group were worth $21,536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. bought a new position in shares of Cigna Group in the fourth quarter worth about $724,517,000. Nuveen LLC bought a new position in shares of Cigna Group in the first quarter worth about $727,905,000. GAMMA Investing LLC increased its stake in shares of Cigna Group by 58,799.0% in the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after purchasing an additional 1,771,613 shares during the period. GQG Partners LLC increased its stake in shares of 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 purchasing an additional 865,092 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Cigna Group by 278.0% in the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock worth $225,385,000 after purchasing an additional 600,300 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

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 that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Wells Fargo & Company lowered their price target on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 14th. Cowen restated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Piper Sandler boosted their price target on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Truist Financial boosted their price target on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $378.33.

Cigna Group Trading Up 1.3%

CI stock opened at $302.1950 on Wednesday. Cigna Group has a 1-year low of $256.89 and a 1-year high of $370.83. The firm has a market cap of $80.66 billion, a P/E ratio of 16.50, a P/E/G ratio of 0.87 and a beta of 0.47. The business's 50 day moving average is $301.55 and its 200-day moving average is $311.30. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share 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 company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same period in the prior year, the company posted $6.72 EPS. The company's 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 analysts anticipate 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 will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio is currently 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.

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