High Note Wealth LLC Lowers Position in Cigna Group $CI

Key Points

• High Note Wealth LLC reduced its stake in Cigna Group by 57.4% during the 2nd quarter, now owning 4,412 shares valued at approximately $1.46 million.
• Several key institutional investors, including Price T Rowe Associates and Valeo Financial Advisors, have significantly adjusted their positions in Cigna Group, indicating strong institutional interest in the company.
• Recent analyst reports show a mixed outlook for Cigna Group, with ratings ranging from "Strong Buy" to "Hold," and an average target price of $371.81.

High Note Wealth LLC trimmed its position in shares of Cigna Group (NYSE:CI - Free Report) by 57.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,412 shares of the health services provider's stock after selling 5,948 shares during the quarter. High Note Wealth LLC's holdings in Cigna Group were worth $1,458,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in shares of Cigna Group by 10.0% during 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 acquiring an additional 1,094,327 shares during the period. Massachusetts Financial Services Co. MA grew its holdings 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 valued at $3,834,493,000 after purchasing an additional 98,715 shares during the period. Dodge & Cox increased its position in shares of Cigna Group by 1.3% in 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 buying an additional 117,125 shares in the last quarter. GQG Partners LLC raised its stake 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 buying an additional 865,092 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in shares of Cigna Group by 86,071.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider's stock valued at $1,148,859,000 after buying an additional 3,471,249 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CI has been the subject of several recent research reports. Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a research note on Friday. Guggenheim reaffirmed a "buy" rating and issued a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Wells Fargo & Company lowered their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cigna Group in a research note on Saturday, September 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cigna Group currently has an average rating of "Moderate Buy" and an average target price of $371.81.

Insider Buying and Selling at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction that occurred on 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 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 position. The sale 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.

Cigna Group Stock Down 2.5%

Shares of NYSE:CI opened at $303.30 on Tuesday. The company has a market capitalization of $80.96 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.91 and a beta of 0.45. Cigna Group has a 12-month low of $256.89 and a 12-month high of $358.88. The business has a 50-day moving average price of $292.64 and a 200 day moving average price of $309.56. 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 (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $62.61 billion. During the same quarter last year, the company posted $6.72 EPS. The firm'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. Sell-side analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group's dividend 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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