Amundi Reduces Stock Position in Cigna Group $CI

Amundi trimmed its position in Cigna Group (NYSE:CI) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,373,452 shares of the health services provider’s stock after selling 127,515 shares during the period. Amundi owned about 0.51% of Cigna Group worth $442,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CI. Brighton Jones LLC grew its stake in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after acquiring an additional 318 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Cigna Group by 3.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,037,898 shares of the health services provider’s stock worth $670,468,000 after buying an additional 60,140 shares during the period. Chicago Partners Investment Group LLC boosted its stake in Cigna Group by 5.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 3,791 shares of the health services provider’s stock worth $1,268,000 after buying an additional 190 shares during the last quarter. Altfest L J & Co. Inc. purchased a new stake in Cigna Group in the 1st quarter valued at about $574,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Cigna Group by 11.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 491,869 shares of the health services provider’s stock valued at $161,825,000 after acquiring an additional 49,405 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Cigna Group Trading Down 1.2%

CI opened at $265.13 on Friday. The firm has a market capitalization of $70.82 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.97 and a beta of 0.26. The firm’s 50 day moving average is $283.21 and its 200-day moving average is $295.92. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Cigna Group has a 52-week low of $239.51 and a 52-week high of $350.00.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The business had revenue of $69.57 billion during the quarter, compared to analyst estimates of $66.40 billion. During the same period last year, the business earned $7.51 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s payout ratio is presently 26.64%.

Insider Buying and Selling

In related news, CEO David Cordani bought 4,134 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $241.88 per share, for a total transaction of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several research analyst reports. Wolfe Research decreased their target price on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Guggenheim reiterated a “buy” rating and issued a $318.00 price target on shares of Cigna Group in a report on Tuesday. Cantor Fitzgerald dropped their price objective on Cigna Group from $365.00 to $325.00 in a report on Friday, October 31st. TD Cowen cut their target price on Cigna Group from $387.00 to $333.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on Cigna Group from $428.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $334.45.

About Cigna Group

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.