MetLife Investment Management LLC Reduces Stock Holdings in Cigna Group $CI

Key Points

• MetLife Investment Management LLC reduced its stake in Cigna Group by 3.4%, owning 72,096 shares valued at approximately $23.7 million as of the latest SEC filing.
• Cigna Group's recent quarterly earnings exceeded expectations, with earnings per share of $7.20, surpassing analyst estimates of $7.15 and reporting a revenue increase of 11% year-over-year.
• The company declared a quarterly dividend of $1.51 per share, yielding 2.0%, with the dividend payout ratio currently at 32.97%.

MetLife Investment Management LLC lessened its stake in Cigna Group (NYSE:CI - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,096 shares of the health services provider's stock after selling 2,540 shares during the period. MetLife Investment Management LLC's holdings in Cigna Group were worth $23,720,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CI. Evermay Wealth Management LLC increased its stake in Cigna Group by 58.6% in the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock valued at $37,000 after acquiring an additional 41 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Cigna Group during the 1st quarter valued at about $38,000. Wayfinding Financial LLC purchased a new stake in Cigna Group in the first quarter worth approximately $40,000. Putney Financial Group LLC purchased a new stake in Cigna Group in the fourth quarter worth approximately $36,000. Finally, Ameriflex Group Inc. bought a new position in Cigna Group during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Stock Down 0.3%

Shares of NYSE CI traded down $0.97 during midday trading on Thursday, hitting $298.98. The stock had a trading volume of 1,949,041 shares, compared to its average volume of 1,842,205. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The business's 50 day moving average is $300.11 and its 200-day moving average is $311.63. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market cap of $79.81 billion, a P/E ratio of 16.32, a PEG ratio of 0.88 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. During the same period in the prior year, the company posted $6.72 earnings per share. The company's quarterly 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, analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the business'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 completion of the transaction, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Guggenheim reaffirmed a "buy" rating and set a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Truist Financial boosted their target price on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $374.82.

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.