Voya Investment Management LLC Reduces Stock Position in Cigna Group $CI

Key Points

• Voya Investment Management LLC sold 77,714 shares of Cigna Group, reducing its holdings by 22.4% to own 269,278 shares valued at $88.59 million.
• Multiple institutional investors have increased their stakes in Cigna Group, with Nuveen LLC leading by purchasing a new stake worth approximately $727.9 million.
• Cigna Group reported quarterly earnings of $7.20 per share, exceeding expectations, and declared a quarterly dividend of $1.51 to be paid on September 18th.

Voya Investment Management LLC reduced its position in shares of Cigna Group (NYSE:CI - Free Report) by 22.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,278 shares of the health services provider's stock after selling 77,714 shares during the period. Voya Investment Management LLC owned 0.10% of Cigna Group worth $88,593,000 as of its most recent SEC filing.

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

Insider Activity at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred 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 sale, the insider owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by insiders.

Cigna Group Stock Down 0.8%

Shares of NYSE CI traded down $2.51 on Thursday, reaching $294.08. 390,517 shares of the company's stock traded hands, compared to its average volume of 1,799,366. The business's 50 day simple moving average is $294.53 and its two-hundred day simple moving average is $311.79. Cigna Group has a 12 month low of $256.89 and a 12 month high of $358.91. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market cap of $78.50 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 0.86 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter in the prior year, the company posted $6.72 earnings per share. The business'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. As a group, equities research analysts forecast 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 will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group's dividend payout ratio is presently 32.97%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research note on Thursday, August 14th. Guggenheim reissued a "buy" rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Wall Street Zen raised shares of Cigna Group from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Wells Fargo & Company decreased their price target on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Two research 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. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $371.81.

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.