Lord Abbett & CO. LLC Buys 3,512 Shares of Cigna Group $CI

Key Points

• Lord Abbett & CO. LLC increased its stake in Cigna Group by 49.3% in Q1, holding a total of 10,629 shares valued at $3,497,000 after acquiring an additional 3,512 shares.
• Cigna Group recently reported $7.20 EPS for Q2, exceeding analyst expectations of $7.15, with revenues rising 11% year-over-year to $67.13 billion.
• The company declared a quarterly dividend of $1.51 per share, scheduled for payment on September 18th, representing an annualized yield of 2.0%.

Lord Abbett & CO. LLC lifted its holdings in Cigna Group (NYSE:CI - Free Report) by 49.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,629 shares of the health services provider's stock after buying an additional 3,512 shares during the quarter. Lord Abbett & CO. LLC's holdings in Cigna Group were worth $3,497,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CI. Brighton Jones LLC raised its position in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after purchasing an additional 318 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Cigna Group by 3.4% in the 4th quarter. NewEdge Advisors LLC now owns 27,078 shares of the health services provider's stock valued at $7,477,000 after buying an additional 894 shares during the period. Zacks Investment Management bought a new stake in shares of Cigna Group during the fourth quarter worth $214,000. Capital International Sarl lifted its stake in shares of Cigna Group by 34.5% during the fourth quarter. Capital International Sarl now owns 2,145 shares of the health services provider's stock valued at $592,000 after acquiring an additional 550 shares during the period. Finally, GeoWealth Management LLC lifted its stake in shares of Cigna Group by 47.9% during the fourth quarter. GeoWealth Management LLC now owns 2,445 shares of the health services provider's stock valued at $675,000 after acquiring an additional 792 shares during the period. 86.99% of the stock is owned by institutional investors.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction 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 sale, the insider owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. 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.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CI. Barclays dropped their price target on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. Cowen reissued a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Finally, TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $374.82.

Cigna Group Stock Down 1.2%

CI stock traded down $3.5750 during midday trading on Thursday, hitting $300.9950. The company's stock had a trading volume of 624,226 shares, compared to its average volume of 1,849,585. The company's fifty day moving average price is $301.44 and its 200 day moving average price is $311.25. 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 twelve month low of $256.89 and a twelve month high of $370.83. The stock has a market capitalization of $80.34 billion, a P/E ratio of 16.45, a PEG ratio of 0.88 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.Cigna Group's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the company earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group's dividend payout ratio (DPR) is currently 32.97%.

Cigna Group Company 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.