State of Alaska Department of Revenue Reduces Holdings in Cigna Group $CI

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Cigna Group by 5.2%, selling 2,050 shares and ending up with 37,625 shares valued at approximately $12.44 million.
• Cigna Group reported earnings of $7.20 per share for the latest quarter, exceeding analysts' expectations and marking an 11% revenue increase year-over-year to $67.13 billion.
• The company recently announced a quarterly dividend of $1.51 per share, representing an annualized dividend of $6.04 and a yield of 2.1%.

State of Alaska Department of Revenue lessened its holdings in Cigna Group (NYSE:CI - Free Report) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,625 shares of the health services provider's stock after selling 2,050 shares during the period. State of Alaska Department of Revenue's holdings in Cigna Group were worth $12,437,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CI. Nuveen LLC acquired a new position in shares of Cigna Group during the 1st quarter worth approximately $727,905,000. GAMMA Investing LLC raised its holdings in shares of Cigna Group by 58,799.0% in the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after acquiring an additional 1,771,613 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Cigna Group by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock valued at $3,966,690,000 after acquiring an additional 1,094,327 shares in the last quarter. GQG Partners LLC boosted its stake 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 valued at $1,607,716,000 after acquiring an additional 865,092 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Cigna Group by 38.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider's stock worth $542,796,000 after purchasing an additional 457,052 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Price Performance

CI opened at $286.04 on Friday. The company has a 50-day moving average of $292.71 and a 200-day moving average of $310.50. Cigna Group has a 1-year low of $256.89 and a 1-year high of $358.88. The company has a market capitalization of $76.35 billion, a P/E ratio of 15.61, a PEG ratio of 0.84 and a beta of 0.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71.

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 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 company had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same period in the prior year, the company earned $6.72 earnings per share. The firm'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. Equities analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced 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 yield of 2.1%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group's payout ratio is presently 32.97%.

Analyst Ratings Changes

Several research firms have issued reports on CI. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a research note on Tuesday, August 26th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Royal Bank Of Canada reissued an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Finally, Wells Fargo & Company lowered their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Cigna Group presently has an average rating of "Buy" and a consensus price target of $371.81.

Insider Activity

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company'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 completion of the sale, the insider directly owned 25,648 shares of the company's stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.70% of the company's stock.

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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