Shikiar Asset Management Inc. Reduces Position in Cigna Group $CI

Key Points

• Shikiar Asset Management Inc. has reduced its stake in Cigna Group by 6.8%, holding 21,312 shares valued at approximately $7,045,000.
• Cigna Group reported a Q2 earnings per share of $7.20, exceeding estimates and showing an 11% increase in revenue year-over-year.
• The company declared a quarterly dividend of $1.51 per share, resulting in an annual yield of 2.0%.

Shikiar Asset Management Inc. decreased its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,312 shares of the health services provider's stock after selling 1,545 shares during the quarter. Cigna Group comprises about 2.0% of Shikiar Asset Management Inc.'s portfolio, making the stock its 18th biggest holding. Shikiar Asset Management Inc.'s holdings in Cigna Group were worth $7,045,000 at the end of the most recent quarter.

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

Cigna Group Trading Down 0.1%

NYSE CI opened at $306.39 on Friday. The firm's 50-day moving average is $293.90 and its two-hundred day moving average is $309.42. Cigna Group has a 12 month low of $256.89 and a 12 month 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 $81.78 billion, a P/E ratio of 16.72, a PEG ratio of 0.90 and a beta of 0.45.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results 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. The company had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group's revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

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

Wall Street Analysts Forecast Growth

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 company a "buy" rating in a research report on Tuesday, August 5th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Truist Financial set a $375.00 price target on shares of Cigna Group in a research report on Tuesday, September 2nd. Finally, Wall Street Zen cut shares of Cigna Group from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cigna Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $372.69.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction dated 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 directly owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business's stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the sale, the insider owned 51,182 shares in the company, valued at $15,354,600. This trade represents 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 owned by corporate 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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