Maj Invest Holding A S Cuts Holdings in Cigna Group $CI

Key Points

• Maj Invest Holding A S has reduced its holdings in Cigna Group by 13.4%, now owning 412,686 shares, which constitute around 4.8% of their investment portfolio.
• Institutional investors collectively own 86.99% of Cigna Group's stock, indicating strong institutional interest in the company.
• Recent analyst ratings for Cigna Group include a downgrade to "hold" from Wall Street Zen, while Wells Fargo & Company has raised their target price from $340 to $354.

Maj Invest Holding A S decreased its holdings in Cigna Group (NYSE:CI - Free Report) by 13.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 412,686 shares of the health services provider's stock after selling 63,783 shares during the period. Cigna Group comprises approximately 4.8% of Maj Invest Holding A S's investment portfolio, making the stock its 11th biggest holding. Maj Invest Holding A S owned about 0.15% of Cigna Group worth $136,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Drive Wealth Management LLC increased its holdings in shares of Cigna Group by 14.7% in the 2nd quarter. Drive Wealth Management LLC now owns 1,251 shares of the health services provider's stock valued at $413,000 after acquiring an additional 160 shares during the period. Princeton Global Asset Management LLC boosted its position in Cigna Group by 115.6% during the second quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider's stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. Stephens Inc. AR grew its stake in Cigna Group by 4.9% in the second quarter. Stephens Inc. AR now owns 6,484 shares of the health services provider's stock valued at $2,143,000 after purchasing an additional 301 shares during the last quarter. Balboa Wealth Partners raised its holdings in Cigna Group by 16.4% in the second quarter. Balboa Wealth Partners now owns 944 shares of the health services provider's stock worth $312,000 after purchasing an additional 133 shares in the last quarter. Finally, Calamos Wealth Management LLC purchased a new stake in shares of Cigna Group during the second quarter valued at about $228,000. Institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Wells Fargo & Company raised their target price on shares of Cigna Group from $340.00 to $354.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cigna Group in a research report on Wednesday, October 8th. Truist Financial set a $375.00 price objective on Cigna Group in a report on Tuesday, September 2nd. Finally, The Goldman Sachs Group began coverage on Cigna Group in a research note on Tuesday, October 14th. They set a "buy" rating and a $370.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $369.89.

Insider Activity

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the sale, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares of the company's stock, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company's stock.

Cigna Group Stock Up 2.6%

Cigna Group stock opened at $307.03 on Tuesday. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $350.00. The company has a market cap of $81.96 billion, a PE ratio of 16.76, a PEG ratio of 0.88 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The business's 50-day simple moving average is $297.87 and its two-hundred day simple moving average is $307.81.

Cigna Group (NYSE:CI - Get Free Report) last released 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. The firm 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 business's quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

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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