Optas LLC Sells 931 Shares of Cigna Group $CI

Key Points

• Optas LLC sold 931 shares of Cigna Group, reducing its stake by 16.6% and leaving it with 4,681 shares valued at approximately $1.5 million.
• Insider trading included significant sales, with Brian C. Evanko selling 5,368 shares for $1.61 million and Nicole S. Jones selling 28,526 shares for $8.56 million.
• Despite recent downgrades, analysts generally maintain a positive outlook on Cigna Group, with a current average price target of $372.69 and a mix of ratings including 2 Strong Buy and 14 Buy ratings.

Optas LLC trimmed its stake in shares of Cigna Group (NYSE:CI - Free Report) by 16.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,681 shares of the health services provider's stock after selling 931 shares during the quarter. Optas LLC's holdings in Cigna Group were worth $1,547,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CI. Family Legacy Inc. raised its holdings in shares of Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after purchasing an additional 31 shares during the last quarter. Impact Investors Inc increased its holdings in Cigna Group by 1.6% during the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock worth $650,000 after buying an additional 31 shares during the last quarter. Mission Wealth Management LP increased its holdings in Cigna Group by 1.5% during the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock worth $691,000 after buying an additional 32 shares during the last quarter. Westend Capital Management LLC increased its holdings in Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock worth $140,000 after buying an additional 32 shares during the last quarter. Finally, Financial Network Wealth Advisors LLC increased its holdings in Cigna Group by 26.8% during the first quarter. Financial Network Wealth Advisors LLC now owns 161 shares of the health services provider's stock worth $53,000 after buying an additional 34 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the sale, the insider directly owned 51,182 shares in the company, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole S. Jones sold 28,526 shares of Cigna Group 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 sale, the insider owned 25,648 shares of the company's stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Barclays raised their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a report on Thursday, September 4th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Guggenheim reiterated a "buy" rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Truist Financial set a $375.00 target price on shares of Cigna Group in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has an average rating of "Moderate Buy" and an average price target of $372.69.

Cigna Group Price Performance

CI stock opened at $306.57 on Thursday. The firm has a 50 day moving average of $293.11 and a 200-day moving average of $309.52. 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 $358.88. The firm has a market capitalization of $81.83 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45.

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

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is 32.97%.

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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