Federation des caisses Desjardins du Quebec Has $6.70 Million Position in Cigna Group $CI

Key Points

• Federation des caisses Desjardins du Quebec reduced its stake in Cigna Group by 25.4%, selling 6,948 shares and holding 20,369 shares worth approximately $6.7 million as of its latest SEC filing.
• Cigna Group reported a quarterly revenue of $67.13 billion, exceeding analyst expectations, and posted an earnings per share (EPS) of $7.20, beating estimates by $0.05.
• The company announced a dividend of $1.51 per share, representing a 2.0% annual yield, with the payment date set for September 18th.

Federation des caisses Desjardins du Quebec lessened its position in Cigna Group (NYSE:CI - Free Report) by 25.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,369 shares of the health services provider's stock after selling 6,948 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Cigna Group were worth $6,702,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Cigna Group by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock valued at $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 shares of Cigna Group by 0.9% during the 1st 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 purchasing an additional 98,715 shares during the last quarter. Dodge & Cox increased its position in shares of Cigna Group by 1.3% during the 1st quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock worth $2,924,722,000 after purchasing an additional 117,125 shares during the last quarter. GQG Partners LLC increased its position in shares of Cigna Group by 21.5% during the 1st 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 last quarter. Finally, Parnassus Investments LLC increased its position in shares of Cigna Group by 3.1% during the 1st quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider's stock worth $949,357,000 after purchasing an additional 86,602 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Stock Performance

CI traded up $2.30 during trading on Tuesday, hitting $303.19. The stock had a trading volume of 364,327 shares, compared to its average volume of 1,818,286. The company has a 50 day moving average price of $297.09 and a 200-day moving average price of $312.18. The firm has a market cap of $80.93 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 0.89 and a beta of 0.48. 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 one year low of $256.89 and a one year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate 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. As a group, research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

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

Insider Activity 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 transaction of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares of the company's stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent analyst reports. Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Truist Financial set a $375.00 price target on Cigna Group in a research report on Tuesday, September 2nd. 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 report on Thursday, August 14th. Guggenheim reaffirmed a "buy" rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Cigna Group has a consensus rating of "Buy" and an average price target of $374.76.

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.