UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 28,686 Shares of Cigna Group $CI

Key Points

• UBS AM reduced its stake in Cigna Group by 1.1% in the first quarter, owning approximately 2.47 million shares valued at about $811.61 million.
• Cigna reported earnings of $7.20 per share, exceeding estimates, with revenue of $67.13 billion for the quarter, an 11.0% year-over-year increase.
• The company declared a quarterly dividend of $1.51 per share, scheduled for payment on September 18th, reflecting a 2.0% yield based on its annualized dividends.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC trimmed its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,466,906 shares of the health services provider's stock after selling 28,686 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.92% of Cigna Group worth $811,612,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Family Legacy Inc. grew its holdings in Cigna Group by 0.5% during the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after purchasing an additional 31 shares during the last quarter. Impact Investors Inc grew its holdings in Cigna Group by 1.6% during the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after purchasing an additional 31 shares during the last quarter. Mission Wealth Management LP grew its holdings in Cigna Group by 1.5% during the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after purchasing an additional 32 shares during the last quarter. Westend Capital Management LLC grew its holdings in Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares during the last quarter. Finally, Moody National Bank Trust Division grew its holdings in Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CI. Barclays increased their price target on Cigna Group from $354.00 to $383.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Robert W. Baird set a $372.00 price target on Cigna Group in a report on Thursday, August 14th. Guggenheim reiterated a "buy" rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Finally, Wells Fargo & Company cut their price target on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Cigna Group presently has an average rating of "Buy" and a consensus target price of $374.76.

Insider Activity at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the business'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 transaction, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Cigna Group Stock Performance

Shares of CI traded up $3.49 on Thursday, reaching $305.93. 1,443,759 shares of the stock traded hands, compared to its average volume of 1,490,656. The firm has a market cap of $81.66 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 0.89 and a beta of 0.48. 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 12 month low of $256.89 and a 12 month high of $370.83. The stock's 50-day moving average price is $295.81 and its 200-day moving average price is $312.08.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same period in the prior year, the company posted $6.72 earnings per share. The business's revenue for the quarter 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 forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

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

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.