Shell Asset Management Co. Grows Holdings in Cigna Group $CI

Key Points

• Shell Asset Management Co. increased its stake in Cigna Group by 42.3% during Q2, owning 20,768 shares valued at $6.87 million following the purchase of 6,173 additional shares.
• Several other institutional investors also adjusted their holdings in Cigna Group, leading to institutional ownership rising to 86.99% of the company’s stock.
• Cigna Group announced a quarterly dividend of $1.51 per share, reflecting an annualized dividend yield of 2.0%, along with strong earnings results where it reported $7.20 EPS for the last quarter.

Shell Asset Management Co. grew its stake in Cigna Group (NYSE:CI - Free Report) by 42.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,768 shares of the health services provider's stock after acquiring an additional 6,173 shares during the period. Shell Asset Management Co.'s holdings in Cigna Group were worth $6,865,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Flaharty Asset Management LLC purchased a new position in shares of Cigna Group during the first quarter valued at $28,000. 1248 Management LLC purchased a new stake in Cigna Group in the first quarter worth about $29,000. Activest Wealth Management grew its holdings in Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock worth $30,000 after acquiring an additional 72 shares in the last quarter. Retirement Wealth Solutions LLC increased its position in Cigna Group by 74.1% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider's stock valued at $33,000 after purchasing an additional 43 shares during the period. Finally, Saudi Central Bank purchased a new position in Cigna Group during the 1st quarter valued at about $36,000. Institutional investors own 86.99% of the company's stock.

Insider Activity

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 value of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CI. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Guggenheim restated a "buy" rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Cantor Fitzgerald reissued an "overweight" rating and issued a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Finally, Truist Financial set a $375.00 price objective on 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 given a Hold rating to the company. According to data from MarketBeat.com, Cigna Group currently has an average rating of "Moderate Buy" and an average price target of $371.81.

Cigna Group Stock Down 2.5%

Cigna Group stock opened at $303.30 on Tuesday. Cigna Group has a 1-year low of $256.89 and a 1-year high of $358.88. The business has a fifty day moving average price of $292.64 and a 200-day moving average price of $309.56. 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 $80.96 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 0.91 and a beta of 0.45.

Cigna Group (NYSE:CI - Get Free Report) last announced 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. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same period in the prior year, the company posted $6.72 EPS. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

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

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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