Freedom Investment Management Inc. Cuts Stock Holdings in Cigna Group $CI

Freedom Investment Management Inc. lowered its stake in shares of Cigna Group (NYSE:CI) by 13.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,503 shares of the health services provider’s stock after selling 532 shares during the period. Freedom Investment Management Inc.’s holdings in Cigna Group were worth $1,158,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Flaharty Asset Management LLC acquired a new stake in shares of Cigna Group in the first quarter worth $28,000. 1248 Management LLC acquired a new stake in shares of Cigna Group in the first quarter worth $29,000. Activest Wealth Management increased its position in shares of Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after acquiring an additional 72 shares in the last quarter. Princeton Global Asset Management LLC increased its position in shares of Cigna Group by 115.6% in the second quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock worth $32,000 after acquiring an additional 52 shares in the last quarter. Finally, Retirement Wealth Solutions LLC increased its position in shares of Cigna Group by 74.1% in the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after acquiring an additional 43 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research report on Thursday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $365.00 price objective on shares of Cigna Group in a research report on Tuesday, August 26th. Wolfe Research dropped their price objective on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Barclays increased their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Finally, Wells Fargo & Company raised their price target on shares of Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Cigna Group currently has an average rating of “Moderate Buy” and a consensus price target of $369.89.

Cigna Group Price Performance

CI opened at $305.08 on Friday. The company has a fifty day simple moving average of $299.12 and a 200 day simple moving average of $307.74. The firm has a market cap of $81.43 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.90 and a beta of 0.45. Cigna Group has a twelve month low of $256.89 and a twelve month high of $350.00. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI) last released its quarterly 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 business had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the business 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s dividend payout ratio (DPR) is currently 32.97%.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the transaction, the insider directly owned 51,182 shares of the company’s stock, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

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.