Pzena Investment Management LLC Has $173.09 Million Holdings in Cigna Group $CI

Key Points

• Pzena Investment Management LLC has increased its stake in Cigna Group by 9.7%, owning a total of 523,600 shares valued at approximately $173.09 million.
• Institutional investors hold 86.99% of Cigna Group's stock, indicating strong backing from large financial entities.
• Cigna Group recently reported earnings of $7.20 per share, surpassing analyst expectations, with an 11.0% year-over-year revenue growth to $67.13 billion.

Pzena Investment Management LLC raised its position in Cigna Group (NYSE:CI - Free Report) by 9.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 523,600 shares of the health services provider's stock after buying an additional 46,140 shares during the period. Pzena Investment Management LLC owned 0.20% of Cigna Group worth $173,092,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of 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 purchasing an additional 1,094,327 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Cigna Group by 0.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock worth $3,834,493,000 after purchasing an additional 98,715 shares in the last quarter. Dodge & Cox lifted its position in shares of Cigna Group by 1.3% during the first quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock worth $2,924,722,000 after purchasing an additional 117,125 shares in the last quarter. GQG Partners LLC lifted its position in shares of 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 purchasing an additional 865,092 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in shares of Cigna Group by 86,071.1% during the second 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 in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction 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 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 disclosure for this sale can be found here. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CI has been the topic of a number of research reports. Barclays upped their target price on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Weiss Ratings restated a "hold (c+)" rating on shares of Cigna Group in a report on Wednesday, October 8th. Truist Financial set a $375.00 price objective on shares of Cigna Group in a report on Tuesday, September 2nd. Guggenheim restated a "buy" rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $372.69.

Cigna Group Trading Down 1.7%

NYSE:CI opened at $301.00 on Monday. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $358.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $80.35 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45. The business's 50-day simple moving average is $294.68 and its 200-day simple moving average is $309.12.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping 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 business had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same period last year, the business posted $6.72 earnings per share. The firm's quarterly revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $1.51 per share. 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 presently 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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