Gabelli Funds LLC Sells 13,245 Shares of Cigna Group $CI

Key Points

• Gabelli Funds LLC reduced its holdings in Cigna Group by 15.6%, selling 13,245 shares and ending up with 71,630 shares valued at approximately $23.57 million.
• Several institutional investors have made recent movements in Cigna Group, including Evermay Wealth Management which increased holdings by 58.6% during the first quarter.
• Cigna Group recently announced a quarterly dividend of $1.51 per share, representing a yield of 2.0% and a payout ratio of 32.97%.

Gabelli Funds LLC lowered its holdings in Cigna Group (NYSE:CI - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,630 shares of the health services provider's stock after selling 13,245 shares during the quarter. Gabelli Funds LLC's holdings in Cigna Group were worth $23,566,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake 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 purchasing an additional 1,094,327 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 purchasing an additional 98,715 shares in the last quarter. Dodge & Cox lifted its stake in shares of Cigna Group by 1.3% during the first quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock valued at $2,924,722,000 after acquiring an additional 117,125 shares during the period. GQG Partners LLC lifted its stake in shares of Cigna Group by 21.5% during the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock valued at $1,607,716,000 after acquiring an additional 865,092 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Cigna Group by 11.7% during the fourth quarter. Northern Trust Corp now owns 3,140,201 shares of the health services provider's stock valued at $867,135,000 after acquiring an additional 328,320 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CI shares. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Piper Sandler upped 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. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a research note on Tuesday, August 26th. Finally, Robert W. Baird set a $372.00 price target on Cigna Group in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cigna Group has an average rating of "Buy" and a consensus target price of $374.82.

Cigna Group Stock Up 0.8%

NYSE CI traded up $2.39 during trading hours on Friday, hitting $301.39. 1,588,821 shares of the company traded hands, compared to its average volume of 1,894,241. The business's 50-day moving average is $299.56 and its 200-day moving average is $311.85. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $80.45 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.88 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last issued 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 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 analysts' expectations of $62.61 billion. During the same period in the prior year, the firm posted $6.72 earnings per share. 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. Sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

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

Insider Activity

In other news, insider Nicole S. Jones sold 28,526 shares of the firm'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 completion of the sale, the insider directly owned 25,648 shares of the company's stock, valued at $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 SEC, which is available at this link. 0.70% of the stock is currently owned by insiders.

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.