Modern Wealth Management LLC Increases Holdings in Cigna Group $CI

Key Points

• Modern Wealth Management LLC increased its holdings in Cigna Group by 91.3% in the first quarter, bringing their total to 3,130 shares valued at approximately $1,030,000.
• Several institutional investors, including Nuveen LLC and GAMMA Investing LLC, have significantly increased their positions in Cigna Group, showing strong interest in the stock.
• Cigna Group reported quarterly earnings of $7.20 per share, exceeding analysts' expectations, with revenues up by 11.0% year-over-year at $67.13 billion.

Modern Wealth Management LLC lifted its position in Cigna Group (NYSE:CI - Free Report) by 91.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,130 shares of the health services provider's stock after purchasing an additional 1,494 shares during the quarter. Modern Wealth Management LLC's holdings in Cigna Group were worth $1,030,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CI. Nuveen LLC purchased a new position in shares of Cigna Group in the first quarter worth about $727,905,000. GAMMA Investing LLC grew its holdings in Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after acquiring an additional 1,771,613 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Cigna Group by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock worth $3,966,690,000 after acquiring an additional 1,094,327 shares during the period. GQG Partners LLC grew its holdings in Cigna Group by 21.5% during the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock worth $1,607,716,000 after acquiring an additional 865,092 shares during the period. Finally, Two Sigma Advisers LP grew its holdings in Cigna Group by 278.0% during the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock worth $225,385,000 after acquiring an additional 600,300 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company dropped their target price 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. Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. TD Cowen raised Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Truist Financial set a $375.00 target price on Cigna Group in a report on Tuesday, September 2nd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Cigna Group has an average rating of "Buy" and an average price target of $374.76.

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the firm'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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is currently owned by company insiders.

Cigna Group Stock Performance

Shares of CI stock opened at $302.71 on Friday. The company has a market capitalization of $80.80 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.90 and a beta of 0.48. The business's 50 day moving average is $295.47 and its two-hundred day moving average is $312.04. 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 12-month low of $256.89 and a 12-month high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company 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 $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is 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.

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