Wright Investors Service Inc. Buys 2,042 Shares of Cigna Group $CI

Key Points

• Wright Investors Service Inc. increased its stake in Cigna Group by 19.0%, now holding 12,768 shares valued at approximately $4.2 million.
• Cigna Group recently reported earnings per share of $7.20 for the last quarter, surpassing analyst expectations, with a year-over-year revenue increase of 11.0%.
• The company declared a quarterly dividend of $1.51, resulting in an annual yield of 2.1% and a payout ratio of 32.97%.

Wright Investors Service Inc. lifted its stake in Cigna Group (NYSE:CI - Free Report) by 19.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,768 shares of the health services provider's stock after buying an additional 2,042 shares during the period. Cigna Group makes up approximately 1.3% of Wright Investors Service Inc.'s investment portfolio, making the stock its 20th biggest position. Wright Investors Service Inc.'s holdings in Cigna Group were worth $4,221,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Modern Wealth Management LLC lifted its stake in Cigna Group by 91.3% during the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider's stock worth $1,030,000 after purchasing an additional 1,494 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Cigna Group by 277.5% during the first quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider's stock worth $2,718,000 after purchasing an additional 6,082 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Cigna Group during the first quarter worth $431,000. NBC Securities Inc. bought a new stake in Cigna Group during the first quarter worth $123,000. Finally, Integrity Alliance LLC. bought a new stake in Cigna Group during the first quarter worth $617,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CI. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of Cigna Group from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. 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. Wells Fargo & Company lowered 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 report on Thursday, August 14th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $371.81.

Cigna Group Trading Up 0.4%

Cigna Group stock traded up $1.10 during trading hours on Tuesday, reaching $289.72. 678,934 shares of the company's stock were exchanged, compared to its average volume of 1,799,128. 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 firm's 50 day simple moving average is $293.71 and its 200 day simple moving average is $311.30. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The firm has a market capitalization of $77.33 billion, a PE ratio of 15.82, a PEG ratio of 0.85 and a beta of 0.48.

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. 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 the consensus estimate of $62.61 billion. During the same period last year, the business posted $6.72 EPS. The business's revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 32.97%.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company's stock.

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.