Swedbank AB Lowers Stock Holdings in Cigna Group $CI

Key Points

• Swedbank AB reduced its stake in Cigna Group by 42.8% in the second quarter, owning approximately 0.19% of the company's shares valued at $167.1 million.
• Cigna Group's quarterly earnings topped analysts' estimates, reporting $7.20 EPS and revenues of $67.13 billion, an 11.0% increase year-over-year.
• Insider Nicole S. Jones sold 28,526 shares of Cigna stock, constituting a 52.66% decrease in her ownership, worth approximately $8.6 million.

Swedbank AB decreased its position in shares of Cigna Group (NYSE:CI - Free Report) by 42.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 505,558 shares of the health services provider's stock after selling 377,779 shares during the period. Swedbank AB owned about 0.19% of Cigna Group worth $167,127,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Flaharty Asset Management LLC acquired a new position in Cigna Group during the 1st quarter worth about $28,000. 1248 Management LLC acquired a new position in Cigna Group during the 1st quarter worth about $29,000. Activest Wealth Management raised its position in Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after purchasing an additional 72 shares in the last quarter. Retirement Wealth Solutions LLC raised its position in Cigna Group by 74.1% in 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 in the last quarter. Finally, Putney Financial Group LLC acquired a new stake in Cigna Group in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. TD Cowen raised Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Wall Street Zen raised Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Truist Financial set a $375.00 price target on Cigna Group in a research report on Tuesday, September 2nd. Finally, Barclays increased their price target on Cigna Group from $354.00 to $383.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Cigna Group has an average rating of "Buy" and a consensus target price of $371.81.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the transaction, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.70% of the stock is currently owned by company insiders.

Cigna Group Stock Down 0.5%

Shares of NYSE CI traded down $1.40 during midday trading on Monday, hitting $288.97. 1,340,078 shares of the company's stock were exchanged, compared to its average volume of 1,401,087. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The company has a market cap of $77.13 billion, a PE ratio of 15.77, a P/E/G ratio of 0.85 and a beta of 0.48. The firm's fifty day simple moving average is $293.71 and its 200-day simple moving average is $311.30.

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 the consensus estimate of $7.15 by $0.05. The business had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The business's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.1%. Cigna Group's payout ratio is 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.