Korea Investment CORP Has $64.16 Million Stake in Cigna Group $CI

Key Points

• Korea Investment CORP has reduced its stake in Cigna Group by 19.4%, now holding 195,026 shares worth approximately $64.16 million after selling 46,875 shares in Q1.
• Cigna Group reported $7.20 EPS for its latest quarter, exceeding analyst expectations with revenue of $67.13 billion, an 11% increase from the previous year.
• The company announced a quarterly dividend of $1.51 per share, representing a dividend yield of 2.0%, with a payout ratio of 32.97%.

Korea Investment CORP trimmed its position in shares of Cigna Group (NYSE:CI - Free Report) by 19.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 195,026 shares of the health services provider's stock after selling 46,875 shares during the period. Korea Investment CORP owned about 0.07% of Cigna Group worth $64,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Family Legacy Inc. boosted its stake in Cigna Group by 0.5% during the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock worth $2,138,000 after buying an additional 31 shares in the last quarter. Impact Investors Inc boosted its stake in Cigna Group by 1.6% during the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock worth $650,000 after buying an additional 31 shares in the last quarter. Mission Wealth Management LP boosted 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 in the last quarter. Westend Capital Management LLC boosted its stake in Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock worth $140,000 after buying an additional 32 shares in the last quarter. Finally, Moody National Bank Trust Division raised its position in Cigna Group by 0.7% in the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock worth $1,509,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Activity

In other 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 transaction, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Cowen reissued a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Truist Financial increased their price target on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Piper Sandler increased their price target on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two research 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $374.82.

Cigna Group Price Performance

Shares of Cigna Group stock traded up $3.1890 during trading on Friday, reaching $304.1390. The company's stock had a trading volume of 1,127,473 shares, compared to its average volume of 1,847,744. The stock has a 50-day moving average price of $301.16 and a two-hundred day moving average price of $311.31. The stock has a market capitalization of $81.18 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 0.89 and a beta of 0.47. 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 has a one year low of $256.89 and a one year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS 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 for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the prior year, the firm earned $6.72 EPS. The company's revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio is presently 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.