MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 12,372 Shares of Cigna Group $CI

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Cigna Group by 57.5%, acquiring an additional 12,372 shares to own a total of 33,896 shares valued at approximately $11.2 million.
• Cigna reported strong quarterly earnings with $7.20 earnings per share, surpassing expectations and showing an 11% year-over-year revenue growth to $67.13 billion.
• The company recently declared a quarterly dividend of $1.51 per share, with a current yield of 2.1% and a payout ratio of 32.97%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in shares of Cigna Group (NYSE:CI - Free Report) by 57.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 33,896 shares of the health services provider's stock after acquiring an additional 12,372 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Cigna Group were worth $11,205,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Brighton Jones LLC boosted its stake 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 period. Ameriflex Group Inc. bought a new stake in shares of Cigna Group during the 4th quarter valued at about $44,000. Park Square Financial Group LLC bought a new stake in shares of Cigna Group during the 4th quarter valued at about $62,000. PKO Investment Management Joint Stock Co bought a new stake in shares of Cigna Group during the 4th quarter valued at about $3,093,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Cigna Group by 92.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 102,647 shares of the health services provider's stock valued at $28,345,000 after acquiring an additional 49,420 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Cigna Group Trading Up 0.5%

NYSE CI opened at $291.61 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The firm has a market capitalization of $77.84 billion, a PE ratio of 15.92, a P/E/G ratio of 0.85 and a beta of 0.48. The stock's 50 day moving average is $293.18 and its 200 day moving average is $311.02.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results 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. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same period in the previous year, the company posted $6.72 earnings per share. The firm's revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

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

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction 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 directly owned 25,648 shares of the company's stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Wells Fargo & Company decreased their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday, August 14th. Robert W. Baird set a $372.00 price target on Cigna Group in a research note on Thursday, August 14th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.