Te Ahumairangi Investment Management Ltd Reduces Holdings in Cigna Group $CI

Key Points

• Te Ahumairangi Investment Management Ltd sold 1,982 shares of Cigna Group during Q1, reducing its stake by 9.9%, now holding 18,028 shares valued at approximately $5.93 million.
• Cigna Group reported $67.13 billion in revenue for the most recent quarter, exceeding analyst expectations, and achieved an earnings per share (EPS) of $7.20, surpassing estimates by $0.05.
• The firm has declared a quarterly dividend of $1.51 per share, with an annualized yield of 2.0%, to be paid on September 18th to investors on record by September 4th.

Te Ahumairangi Investment Management Ltd lessened its holdings in Cigna Group (NYSE:CI - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,028 shares of the health services provider's stock after selling 1,982 shares during the quarter. Cigna Group accounts for approximately 1.3% of Te Ahumairangi Investment Management Ltd's holdings, making the stock its 23rd largest holding. Te Ahumairangi Investment Management Ltd's holdings in Cigna Group were worth $5,931,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of Cigna Group by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock worth $3,966,690,000 after acquiring an additional 1,094,327 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Cigna Group by 0.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock valued at $3,834,493,000 after acquiring an additional 98,715 shares during the period. Dodge & Cox raised its stake in shares of Cigna Group by 1.3% in the first quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock valued at $2,924,722,000 after acquiring an additional 117,125 shares during the last quarter. GQG Partners LLC grew its holdings in Cigna Group by 21.5% during the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock worth $1,607,716,000 after acquiring an additional 865,092 shares during the period. Finally, Parnassus Investments LLC lifted its position in Cigna Group by 3.1% in the 1st quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider's stock valued at $949,357,000 after acquiring an additional 86,602 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Cowen reissued a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Morgan Stanley increased their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $374.82.

Cigna Group Stock Down 0.1%

Shares of NYSE:CI traded down $0.29 during midday trading on Tuesday, hitting $300.58. 1,431,090 shares of the company's stock traded hands, compared to its average volume of 1,835,780. The firm's fifty day moving average price is $299.24 and its two-hundred day moving average price is $311.99. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The company has a market cap of $80.23 billion, a PE ratio of 16.41, a P/E/G ratio of 0.88 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 quarterly 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. The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.Cigna Group's revenue was up 11.0% on a year-over-year basis. During the same quarter last 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 fiscal year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group's payout ratio is 32.97%.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by 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.