USS Investment Management Ltd Lowers Stake in Cigna Group $CI

Key Points

• USS Investment Management Ltd has reduced its stake in Cigna Group by 18.8%, resulting in ownership of 42,029 shares worth approximately $13.8 million.
• Several other institutional investors have increased their holdings in Cigna Group, with Brighton Jones LLC raising its stake by 9.3% in the last quarter.
• Cigna Group has recently reported a net margin of 1.92% and quarterly revenue growth of 11.0% year-over-year, with strong earnings per share of $7.20 beating estimates.

USS Investment Management Ltd reduced its stake in shares of Cigna Group (NYSE:CI - Free Report) by 18.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,029 shares of the health services provider's stock after selling 9,700 shares during the quarter. USS Investment Management Ltd's holdings in Cigna Group were worth $13,835,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after buying an additional 318 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Cigna Group by 2.4% in the 4th quarter. Benjamin Edwards Inc. now owns 2,158 shares of the health services provider's stock valued at $596,000 after purchasing an additional 50 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Cigna Group by 6.9% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,185 shares of the health services provider's stock valued at $1,708,000 after buying an additional 399 shares in the last quarter. Fiduciary Trust Co increased its stake in shares of Cigna Group by 0.5% during the fourth quarter. Fiduciary Trust Co now owns 20,042 shares of the health services provider's stock worth $5,534,000 after purchasing an additional 96 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in Cigna Group by 11.6% during the 4th quarter. Focus Partners Wealth now owns 23,808 shares of the health services provider's stock worth $6,579,000 after buying an additional 2,483 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CI shares. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. 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. Guggenheim reaffirmed a "buy" rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Cigna Group presently has an average rating of "Buy" and an average price target of $374.76.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction on 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 transaction, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Cigna Group Stock Up 0.4%

Cigna Group stock opened at $305.28 on Friday. 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 has a fifty-two week low of $256.89 and a fifty-two week high of $370.83. The stock has a 50-day simple moving average of $297.68 and a 200-day simple moving average of $312.09. The company has a market capitalization of $81.49 billion, a P/E ratio of 16.66, a PEG ratio of 0.89 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter in the prior year, the firm earned $6.72 EPS. Cigna Group's revenue for the quarter was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

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 paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend 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.

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