Cigna Group $CI Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in Cigna Group (NYSE:CI) by 1.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 758,538 shares of the health services provider’s stock after selling 10,497 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Cigna Group were worth $249,559,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CI. Nuveen LLC acquired a new position in Cigna Group in the 1st quarter valued at about $727,905,000. GAMMA Investing LLC grew its position in shares of Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider’s stock worth $583,852,000 after buying an additional 1,771,613 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Cigna Group by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock worth $3,966,690,000 after buying an additional 1,094,327 shares in the last quarter. GQG Partners LLC grew its position 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 buying an additional 865,092 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in shares of Cigna Group by 278.0% during the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider’s stock worth $225,385,000 after buying an additional 600,300 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the company’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 transaction of $8,557,800.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by company insiders.

Cigna Group Price Performance

Cigna Group stock opened at $298.98 on Friday. Cigna Group has a 12 month low of $256.89 and a 12 month high of $370.83. 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 business has a 50 day simple moving average of $299.80 and a 200-day simple moving average of $311.67. The stock has a market capitalization of $79.81 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 0.88 and a beta of 0.47.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 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 business had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. During the same quarter in the prior year, the business earned $6.72 earnings per share. The company’s quarterly revenue 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 predict 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler boosted their target price on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Truist Financial boosted their target price on Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Cowen restated a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Guggenheim restated a “buy” rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Wall Street Zen cut Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Cigna Group has a consensus rating of “Buy” and a consensus price target of $374.82.

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.