Cigna Group $CI Stake Reduced by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in Cigna Group (NYSE:CI) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,217 shares of the health services provider’s stock after selling 296 shares during the quarter. Cresset Asset Management LLC’s holdings in Cigna Group were worth $2,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Putney Financial Group LLC acquired a new stake in Cigna Group during the 4th quarter worth about $36,000. Evermay Wealth Management LLC raised its holdings in Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider’s stock worth $37,000 after buying an additional 41 shares during the period. Transce3nd LLC acquired a new stake in Cigna Group during the 4th quarter worth about $38,000. Richardson Financial Services Inc. acquired a new stake in Cigna Group during the 1st quarter worth about $38,000. Finally, Wayfinding Financial LLC acquired a new stake in Cigna Group during the 1st quarter worth about $40,000. 86.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen downgraded Cigna Group from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Cowen restated a “buy” rating on shares of Cigna Group in a report on Monday, May 5th. Truist Financial boosted their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Finally, Piper Sandler boosted their price objective on Cigna Group from $348.00 to $374.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $378.33.

Insider Activity at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the business’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 value of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

Cigna Group Price Performance

Shares of CI opened at $302.1950 on Wednesday. The company has a market capitalization of $80.66 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 0.87 and a beta of 0.47. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week 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’s 50-day moving average is $301.55 and its 200-day moving average is $311.30.

Cigna Group (NYSE:CI) last issued its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts expect 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. Investors of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group’s payout ratio is presently 32.97%.

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.