Cigna Group $CI Shares Bought by Korea Investment CORP

Korea Investment CORP grew its stake in Cigna Group (NYSE:CI) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 199,405 shares of the health services provider’s stock after purchasing an additional 4,379 shares during the period. Korea Investment CORP owned approximately 0.07% of Cigna Group worth $65,919,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CI. Price T Rowe Associates Inc. MD increased its stake in Cigna Group by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after buying an additional 1,094,327 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cigna Group by 1.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,778,472 shares of the health services provider’s stock valued at $3,893,727,000 after acquiring an additional 123,479 shares in the last quarter. Dodge & Cox boosted its holdings 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 in the last quarter. GQG Partners LLC increased its stake in shares of Cigna Group by 21.5% during the first 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, Valeo Financial Advisors LLC raised its holdings in Cigna Group by 86,071.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after purchasing an additional 3,471,249 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Up 0.1%

Shares of NYSE CI opened at $278.60 on Friday. Cigna Group has a 12-month low of $239.51 and a 12-month high of $350.00. The company has a market capitalization of $74.42 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm’s 50-day moving average is $285.25 and its two-hundred day moving average is $297.60.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. During the same period last year, the company posted $7.51 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities 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, December 18th. Stockholders of record on Thursday, December 4th will be issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s payout ratio is 26.64%.

Wall Street Analyst Weigh In

CI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on Cigna Group from $415.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Cowen restated a “buy” rating on shares of Cigna Group in a research note on Tuesday, November 4th. Truist Financial cut their price objective on Cigna Group from $375.00 to $310.00 in a research report on Friday, October 31st. Barclays reduced their target price on Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, The Goldman Sachs Group lowered their price target on shares of Cigna Group from $370.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $334.05.

Insider Buying and Selling at Cigna Group

In related news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the sale, the insider owned 51,182 shares of the company’s stock, valued at $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Cordani acquired 4,134 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $241.88 per share, with a total value of $999,931.92. Following the transaction, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This represents a 2.69% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is owned by corporate 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.