KLP Kapitalforvaltning AS Increases Stock Holdings in Cigna Group $CI

Key Points

• KLP Kapitalforvaltning AS increased its stake in Cigna Group by 20.1% during Q2, owning approximately 179,023 shares valued at about $59.2 million.
• Cigna Group reported $7.20 EPS for the last quarter, outperforming the consensus estimate by $0.05, and saw a revenue increase of 11.0% year over year.
• The company recently announced a $1.51 quarterly dividend, which represents an annualized yield of 2.0% and a payout ratio of 32.97%.

KLP Kapitalforvaltning AS increased its position in Cigna Group (NYSE:CI - Free Report) by 20.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,023 shares of the health services provider's stock after acquiring an additional 30,000 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.07% of Cigna Group worth $59,181,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Modern Wealth Management LLC boosted its holdings in Cigna Group by 91.3% in the 1st quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider's stock valued at $1,030,000 after purchasing an additional 1,494 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Cigna Group by 3.9% in the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider's stock worth $11,882,000 after buying an additional 1,357 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Cigna Group by 277.5% during the first quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider's stock valued at $2,718,000 after buying an additional 6,082 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Cigna Group during the first quarter worth about $431,000. Finally, NBC Securities Inc. purchased a new position in Cigna Group during the first quarter worth about $123,000. Institutional investors own 86.99% of the company's stock.

Cigna Group Trading Down 2.5%

CI stock opened at $303.30 on Tuesday. Cigna Group has a one year low of $256.89 and a one year high of $358.88. The company has a market capitalization of $80.96 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.91 and a beta of 0.45. The company's 50 day moving average price is $292.64 and its two-hundred day moving average price is $309.56. 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 released its 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. The company had revenue of $67.13 billion for 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 quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the firm earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group's payout ratio is currently 32.97%.

Insider Buying and Selling at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company lowered their target price on shares of 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. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a report on Thursday, August 14th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Cigna Group presently has an average rating of "Moderate Buy" and an average price target of $371.81.

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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