Intech Investment Management LLC Sells 12,631 Shares of Cigna Group $CI

Key Points

• Intech Investment Management LLC has reduced its stake in Cigna Group by 38.7%, selling 12,631 shares to hold a total of 20,014 shares valued at $6,585,000.
• Analysts maintain a generally positive outlook for Cigna Group, with a Buy rating and an average price target of $374.76, following recent upgrades from various investment firms.
• Cigna Group announced a quarterly dividend of $1.51 per share, reflecting a 2.0% dividend yield, with the dividend to be paid on September 18th.

Intech Investment Management LLC decreased its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 38.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,014 shares of the health services provider's stock after selling 12,631 shares during the period. Intech Investment Management LLC's holdings in Cigna Group were worth $6,585,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CI. Flaharty Asset Management LLC acquired a new position in Cigna Group during the 1st quarter valued at about $28,000. 1248 Management LLC bought a new position in shares of Cigna Group in the first quarter valued at approximately $29,000. Activest Wealth Management boosted its position in shares of Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after buying an additional 72 shares during the last quarter. Putney Financial Group LLC bought a new position in Cigna Group during the 4th quarter valued at $36,000. Finally, Saudi Central Bank bought a new stake in shares of Cigna Group in the 1st quarter worth $36,000. 86.99% of the stock is owned by institutional investors.

Cigna Group Stock Performance

NYSE CI traded down $2.78 on Tuesday, hitting $294.36. 734,878 shares of the stock traded hands, compared to its average volume of 1,804,903. The business's fifty day moving average is $295.15 and its two-hundred day moving average is $312.02. Cigna Group has a 12 month low of $256.89 and a 12 month high of $366.91. The firm has a market capitalization of $78.57 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.89 and a beta of 0.48. 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 (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The business's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. Cigna Group's dividend payout ratio is currently 32.97%.

Analyst Ratings Changes

Several research firms recently weighed in on CI. Truist Financial set a $375.00 price target on shares of Cigna Group in a report on Tuesday, September 2nd. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Barclays upped their target price on Cigna Group from $354.00 to $383.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Robert W. Baird set a $372.00 target price on Cigna Group in a report on Thursday, August 14th. Finally, Wells Fargo & Company reduced their target price on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $374.76.

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 shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.

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.