Mutual of America Capital Management LLC Reduces Stock Position in Cigna Group $CI

Key Points

• Mutual of America Capital Management LLC has reduced its stake in Cigna Group by 7.6%, selling 2,965 shares to hold a total of 35,961 shares worth approximately $11.89 million.
• Several other investors, including Valeo Financial Advisors LLC and Price T Rowe Associates Inc., have made significant changes to their holdings, with Valeo increasing its position by over 86,000%.
• Cigna Group reported earnings of $7.20 EPS, exceeding estimates and showcasing a year-over-year revenue increase of 11% to $67.13 billion during the last quarter.

Mutual of America Capital Management LLC reduced its holdings in Cigna Group (NYSE:CI - Free Report) by 7.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,961 shares of the health services provider's stock after selling 2,965 shares during the period. Mutual of America Capital Management LLC's holdings in Cigna Group were worth $11,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CI. Valeo Financial Advisors LLC boosted its stake in shares of Cigna Group by 86,071.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider's stock worth $1,148,859,000 after purchasing an additional 3,471,249 shares during the period. Nuveen LLC purchased a new position in shares of Cigna Group during the 1st quarter worth about $727,905,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Cigna Group by 10.0% during the 1st 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 purchasing an additional 1,094,327 shares during the period. GQG Partners LLC boosted its stake in shares of Cigna Group by 21.5% during the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock worth $1,607,716,000 after purchasing an additional 865,092 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Cigna Group by 38.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider's stock worth $542,796,000 after purchasing an additional 457,052 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Stock Performance

Shares of Cigna Group stock opened at $299.81 on Monday. The firm has a market cap of $80.03 billion, a P/E ratio of 16.37, a P/E/G ratio of 0.88 and a beta of 0.45. 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 $353.55. The stock's fifty day moving average price is $297.27 and its 200-day moving average price is $307.91.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the previous year, the business posted $6.72 EPS. The company's quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities research analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

CI has been the subject of a number of recent analyst reports. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research note on Thursday, August 14th. Barclays lifted their price target on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. Wells Fargo & Company lifted their price target on shares of Cigna Group from $340.00 to $354.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 7th. Guggenheim reissued a "buy" rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of Cigna Group in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Cigna Group presently has an average rating of "Moderate Buy" and an average price target of $369.89.

Insider Activity

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

About Cigna Group

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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