Swedbank AB Sells 377,779 Shares of 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 cut its holdings in Cigna Group (NYSE:CI - Free Report) by 42.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 505,558 shares of the health services provider's stock after selling 377,779 shares during the period. Swedbank AB owned 0.19% of Cigna Group worth $167,127,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Flaharty Asset Management LLC bought a new position in shares of Cigna Group in the first quarter worth about $28,000. 1248 Management LLC bought a new position in Cigna Group during the first quarter valued at about $29,000. Activest Wealth Management increased its stake in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after acquiring an additional 72 shares during the period. Retirement Wealth Solutions LLC increased its stake in Cigna Group by 74.1% during the second 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 period. Finally, Putney Financial Group LLC bought a new position in Cigna Group during the fourth quarter valued at about $36,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CI shares. Truist Financial set a $375.00 price target on Cigna Group in a research note on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $365.00 price objective on shares of Cigna Group in a research note on Tuesday, August 26th. Finally, TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Cigna Group presently has an average rating of "Buy" and an average price target of $371.81.

Cigna Group Trading Down 1.2%

Shares of CI stock traded down $3.60 during trading hours on Friday, reaching $290.16. The company had a trading volume of 2,573,913 shares, compared to its average volume of 1,328,766. The company has a 50 day moving average of $293.99 and a 200 day moving average of $311.56. 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 firm has a market cap of $77.45 billion, a price-to-earnings ratio of 15.84, a P/E/G ratio of 0.85 and a beta of 0.48. Cigna Group has a 1-year low of $256.89 and a 1-year high of $358.91.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share 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 the consensus estimate 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 quarter in the prior year, the business posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities research analysts anticipate that Cigna Group will post 29.77 EPS for the current 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 paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. Cigna Group's dividend payout ratio (DPR) is currently 32.97%.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.70% of the company's stock.

Cigna Group 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.