OMERS ADMINISTRATION Corp Has $3.43 Million Stake in Cigna Group $CI

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Cigna Group by 14.3% during the first quarter, now holding 10,424 shares valued at approximately $3.4 million.
• Despite OMERS' decreased stake, other investors are increasing their holdings, with Evermay Wealth Management LLC raising its stake by 58.6% in the same period.
• Cigna Group's stock has a consensus rating of "Buy" and a price target range between $350.00 and $372.00 according to various analyst reports.

OMERS ADMINISTRATION Corp reduced its stake in Cigna Group (NYSE:CI - Free Report) by 14.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,424 shares of the health services provider's stock after selling 1,745 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Cigna Group were worth $3,429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its holdings in Cigna Group by 9.3% in the fourth 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. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cigna Group in the 4th quarter worth approximately $1,068,000. Eagle Strategies LLC bought a new stake in shares of Cigna Group in the 4th quarter worth approximately $269,000. TAM Capital Management Inc. bought a new stake in Cigna Group during the 4th quarter valued at $128,590,000. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Cigna Group by 0.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 57,003 shares of the health services provider's stock worth $15,741,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction on 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 completion of the sale, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by corporate insiders.

Cigna Group Stock Down 0.6%

CI stock traded down $1.85 during midday trading on Wednesday, hitting $298.87. 308,238 shares of the company's stock were exchanged, compared to its average volume of 1,828,831. 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 stock has a market capitalization of $79.78 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 0.88 and a beta of 0.48. The firm has a 50 day moving average price of $298.92 and a 200-day moving average price of $311.91.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data 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. The business 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 company's revenue was up 11.0% on a year-over-year basis. 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. On average, analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a research note on Thursday, August 14th. Cantor Fitzgerald restated an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a research note on Tuesday, August 26th. Wells Fargo & Company reduced their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 target price 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, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Cigna Group presently has an average rating of "Buy" and an average price target of $373.06.

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.