Retirement Planning Co of New England Inc. Purchases Shares of 9,615 Cigna Group $CI

Key Points

• Retirement Planning Co of New England Inc. acquired 9,615 shares of Cigna Group valued at approximately $3.16 million, making it the company's 14th biggest position with 1.2% of its portfolio.
• Cigna Group reported $7.20 earnings per share for the last quarter, exceeding the $7.15 consensus estimate, with revenue of $67.13 billion, which is significantly above analyst expectations of $62.61 billion.
• The company announced a quarterly dividend of $1.51 per share, representing an annualized yield of 2.0%, with the ex-dividend date set for September 4th.

Retirement Planning Co of New England Inc. purchased a new stake in Cigna Group (NYSE:CI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,615 shares of the health services provider's stock, valued at approximately $3,163,000. Cigna Group accounts for approximately 1.2% of Retirement Planning Co of New England Inc.'s portfolio, making the stock its 14th biggest position.

Several other large investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised 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 buying an additional 1,094,327 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Cigna Group by 0.9% during the 1st 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 buying an additional 98,715 shares during the period. Dodge & Cox raised its stake in shares of Cigna Group by 1.3% during the 1st quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock worth $2,924,722,000 after buying an additional 117,125 shares during the period. GQG Partners LLC raised 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 buying an additional 865,092 shares during the period. Finally, Parnassus Investments LLC raised its stake in shares of Cigna Group by 3.1% during the 1st quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider's stock worth $949,357,000 after buying an additional 86,602 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Up 0.8%

Shares of NYSE:CI opened at $301.39 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The business has a fifty day moving average of $299.56 and a two-hundred day moving average of $311.85. The stock has a market cap of $80.45 billion, a P/E ratio of 16.45, a PEG ratio of 0.88 and a beta of 0.47. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83.

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

Cigna Group Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on CI shares. 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. Cantor Fitzgerald reiterated an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Guggenheim reiterated a "buy" rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Truist Financial boosted their price target on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Finally, Morgan Stanley boosted their price target on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $374.82.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.

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