HBW Advisory Services LLC Decreases Stock Holdings in Cigna Group $CI

Key Points

• HBW Advisory Services LLC has significantly reduced its stake in Cigna Group by 67.9%, selling 7,733 shares and leaving them with a total of 3,664 shares valued at approximately $1.21 million.
• Recent analyst reports indicate mixed sentiments toward Cigna Group, with Guggenheim restating a "buy" rating and setting a revised target price of $350.00, while other firms have adjusted their ratings and price targets.
• Cigna Group recently declared a quarterly dividend of $1.51 per share, with an annualized yield of around 2.0%, and a payout ratio of 32.97%.

HBW Advisory Services LLC lessened its stake in shares of Cigna Group (NYSE:CI - Free Report) by 67.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,664 shares of the health services provider's stock after selling 7,733 shares during the period. HBW Advisory Services LLC's holdings in Cigna Group were worth $1,211,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Flaharty Asset Management LLC acquired a new position in shares of Cigna Group during the 1st quarter valued at $28,000. 1248 Management LLC acquired a new position in Cigna Group during the first quarter worth $29,000. Activest Wealth Management raised its holdings in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock worth $30,000 after buying an additional 72 shares during the last quarter. Putney Financial Group LLC acquired a new position in Cigna Group during the fourth quarter worth $36,000. Finally, Saudi Central Bank acquired a new position in Cigna Group during the first quarter worth $36,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CI shares. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a report on Thursday, August 14th. Cantor Fitzgerald restated an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Truist Financial set a $375.00 price objective on shares of Cigna Group in a report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $371.81.

Insider Activity

In other news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated Friday, August 15th. The shares were 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 of the company's stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Cigna Group Stock Down 0.2%

Shares of NYSE CI traded down $0.47 during trading on Friday, hitting $293.29. The stock had a trading volume of 504,024 shares, compared to its average volume of 1,796,425. The company has a market capitalization of $78.29 billion, a PE ratio of 16.02, a PEG ratio of 0.87 and a beta of 0.48. The firm has a fifty day moving average of $294.24 and a two-hundred day moving average of $311.67. 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 12 month low of $256.89 and a 12 month high of $358.91.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group's dividend payout ratio is presently 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.