Focused Investors LLC Cuts Stake in Cigna Group $CI

Key Points

• Focused Investors LLC reduced its stake in Cigna Group by 2.1%, holding 559,750 shares valued at approximately $185 million, making it the firm's 5th largest holding.
• Insider trading activity included Brian C. Evanko selling 5,368 shares and Nicole S. Jones selling 28,526 shares, resulting in significant decreases in their respective ownership stakes.
• Cigna Group recently announced a quarterly dividend of $1.51 per share, providing a 2.0% dividend yield for shareholders.

Focused Investors LLC lessened its stake in shares of Cigna Group (NYSE:CI - Free Report) by 2.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,750 shares of the health services provider's stock after selling 11,900 shares during the quarter. Cigna Group comprises 6.1% of Focused Investors LLC's investment portfolio, making the stock its 5th biggest holding. Focused Investors LLC owned about 0.21% of Cigna Group worth $185,042,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in CI. Modern Wealth Management LLC raised its holdings in shares of Cigna Group by 91.3% in the 1st quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider's stock worth $1,030,000 after acquiring an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Cigna Group by 3.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider's stock worth $11,882,000 after acquiring an additional 1,357 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Cigna Group by 277.5% in the 1st quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider's stock worth $2,718,000 after acquiring an additional 6,082 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Cigna Group in the 1st quarter worth about $431,000. Finally, NBC Securities Inc. acquired a new stake in shares of Cigna Group in the 1st quarter worth about $123,000. Institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CI shares. Wells Fargo & Company upped their target price on shares of Cigna Group from $340.00 to $354.00 and gave the stock an "equal weight" rating in a report on Tuesday. Wall Street Zen lowered shares of Cigna Group from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research note on Thursday, August 14th. Guggenheim reiterated a "buy" rating and issued a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Cigna Group in a research note on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $372.69.

Insiders Place Their Bets

In other news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the sale, the insider directly owned 51,182 shares of the company's stock, valued at approximately $15,354,600. The trade was a 9.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 sale, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Cigna Group Stock Up 1.4%

CI opened at $307.21 on Wednesday. The company has a 50 day moving average of $292.94 and a 200 day moving average of $309.54. 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 has a 12 month low of $256.89 and a 12 month high of $358.88. The company has a market cap of $82.00 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 0.89 and a beta of 0.45.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same period last year, the firm earned $6.72 EPS. The business's quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued 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 payout ratio 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.

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