Generali Asset Management SPA SGR Sells 1,766 Shares of Cigna Group $CI

Key Points

• Generali Asset Management SPA SGR sold 1,766 shares of Cigna Group, reducing its stake by 5.9% in the second quarter, leaving it with 28,107 shares valued at approximately $9.3 million.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group stock for about $8.56 million, marking a 52.66% decrease in their ownership of the stock.
• Cigna Group recently reported a net margin of 1.92% and quarterly revenue of $67.13 billion, exceeding estimates and reflecting an 11% year-over-year growth.

Generali Asset Management SPA SGR decreased its stake in Cigna Group (NYSE:CI - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,107 shares of the health services provider's stock after selling 1,766 shares during the period. Generali Asset Management SPA SGR's holdings in Cigna Group were worth $9,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Brighton Jones LLC increased its position in Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after purchasing an additional 318 shares during the period. GAMMA Investing LLC boosted its stake in shares of Cigna Group by 79.0% in the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider's stock valued at $1,775,000 after purchasing an additional 2,381 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in shares of Cigna Group by 1.1% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,219 shares of the health services provider's stock worth $1,059,000 after buying an additional 36 shares during the period. Exchange Traded Concepts LLC raised its stake in Cigna Group by 7.2% during the first quarter. Exchange Traded Concepts LLC now owns 3,417 shares of the health services provider's stock worth $1,124,000 after buying an additional 229 shares during the last quarter. Finally, Mission Wealth Management LP raised its stake in 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 worth $691,000 after buying an additional 32 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group assumed coverage on Cigna Group in a research note on Tuesday. They set a "buy" rating and a $370.00 target price for the company. Truist Financial set a $375.00 target price on Cigna Group in a report on Tuesday, September 2nd. Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $372.53.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction dated Friday, August 15th. The shares were 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 directly owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of the business's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction 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. The trade was a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Cigna Group Stock Up 2.2%

CI stock opened at $301.91 on Wednesday. The stock's 50 day simple moving average is $295.86 and its 200 day simple moving average is $308.87. The company has a market cap of $80.59 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 0.87 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $358.88.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $62.61 billion. During the same quarter in the previous year, the company posted $6.72 earnings per share. The company's quarterly revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

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