NewEdge Advisors LLC Decreases Stock Position in Cigna Group $CI

Key Points

• NewEdge Advisors LLC reduced its holdings in Cigna Group by 21.5%, owning 21,267 shares valued at approximately $6.99 million after selling 5,811 shares in the first quarter.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group stock for around $8.56 million, resulting in a 52.66% decline in her ownership stake.
• Cigna Group's quarterly earnings report revealed earnings per share of $7.20, surpassing expectations, with a total revenue of $67.13 billion, marking an 11% year-over-year increase.

NewEdge Advisors LLC trimmed its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 21.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 21,267 shares of the health services provider's stock after selling 5,811 shares during the period. NewEdge Advisors LLC's holdings in Cigna Group were worth $6,997,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Two Sigma Investments LP boosted its holdings in shares of Cigna Group by 32.6% during the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after buying an additional 188,235 shares in the last quarter. Humankind Investments LLC boosted its holdings in shares of Cigna Group by 12.1% during the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after buying an additional 571 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Cigna Group in the 1st quarter worth $123,000. SBI Securities Co. Ltd. lifted its holdings in shares of Cigna Group by 18.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock worth $131,000 after purchasing an additional 63 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Cigna Group by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 113,584 shares of the health services provider's stock worth $37,369,000 after purchasing an additional 2,614 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CI has been the topic of a number of recent research reports. Wall Street Zen cut Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Barclays increased their target price on Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. Wells Fargo & Company cut 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. Finally, Robert W. Baird set a $372.00 target price on Cigna Group in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Cigna Group currently has a consensus rating of "Buy" and an average price target of $374.76.

Cigna Group Price Performance

Shares of NYSE CI traded down $1.54 during midday trading on Friday, hitting $304.33. 699,773 shares of the company's stock were exchanged, compared to its average volume of 1,813,098. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market cap of $81.23 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 0.89 and a beta of 0.48. The business's fifty day moving average price is $295.81 and its two-hundred day moving average price is $312.08.

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, beating analysts' consensus estimates of $7.15 by $0.05. The firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.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 firm posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 32.97%.

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.70% of the stock is currently owned by insiders.

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.