Belpointe Asset Management LLC Trims Position in Cigna Group $CI

Belpointe Asset Management LLC lowered its stake in shares of Cigna Group (NYSE:CI) by 13.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,932 shares of the health services provider’s stock after selling 305 shares during the period. Belpointe Asset Management LLC’s holdings in Cigna Group were worth $636,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CI. Price T Rowe Associates Inc. MD grew its holdings in Cigna Group by 10.0% during 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 purchasing an additional 1,094,327 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Cigna Group by 0.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock worth $3,834,493,000 after purchasing an additional 98,715 shares in the last quarter. Dodge & Cox raised its holdings in shares of Cigna Group by 1.3% in the 1st quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider’s stock worth $2,924,722,000 after purchasing an additional 117,125 shares in the last quarter. GQG Partners LLC raised its holdings 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 valued at $1,607,716,000 after acquiring an additional 865,092 shares during the period. Finally, Parnassus Investments LLC raised its holdings in shares of Cigna Group by 3.1% during the first quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider’s stock valued at $949,357,000 after acquiring an additional 86,602 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CI. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Wells Fargo & Company decreased their price objective on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a report on Thursday, August 14th. Barclays raised their target price on shares of Cigna Group from $354.00 to $383.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Wall Street Zen upgraded shares of Cigna Group from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cigna Group has an average rating of “Buy” and a consensus price target of $374.76.

Cigna Group Trading Down 1.0%

CI stock opened at $302.71 on Friday. 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 company has a fifty day moving average price of $295.47 and a two-hundred day moving average price of $312.04. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The stock has a market cap of $80.80 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 0.90 and a beta of 0.48.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. The firm had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the business posted $6.72 earnings per share. 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 year.

Cigna Group Dividend Announcement

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

Insider Buying and Selling

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 value of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares of the company’s stock, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.70% of the company’s stock.

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.