Bank of Nova Scotia Has $113.14 Million Holdings in Cigna Group $CI

Bank of Nova Scotia lifted its stake in Cigna Group (NYSE:CI) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 342,247 shares of the health services provider’s stock after acquiring an additional 8,812 shares during the period. Bank of Nova Scotia owned approximately 0.13% of Cigna Group worth $113,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its position in Cigna Group by 10.0% in the 1st 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 purchasing an additional 1,094,327 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Cigna Group by 1.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 11,778,472 shares of the health services provider’s stock valued at $3,893,727,000 after buying an additional 123,479 shares during the last quarter. Dodge & Cox lifted its stake in shares of Cigna Group by 0.7% in the second quarter. Dodge & Cox now owns 8,950,610 shares of the health services provider’s stock valued at $2,958,893,000 after buying an additional 60,877 shares during the period. GQG Partners LLC grew its position in 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, Valeo Financial Advisors LLC grew its position in Cigna Group by 86,071.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after buying an additional 3,471,249 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Cigna Group Stock Performance

NYSE:CI opened at $265.13 on Monday. The stock has a market capitalization of $70.82 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.96 and a beta of 0.25. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The firm has a 50 day moving average of $283.21 and a 200-day moving average of $295.56.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The business had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. During the same period in the prior year, the company earned $7.51 EPS. Cigna Group’s revenue for the quarter was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts anticipate 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 paid a $1.51 dividend. The ex-dividend date is Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.3%. Cigna Group’s dividend payout ratio (DPR) is 26.64%.

Insider Transactions at Cigna Group

In related news, CEO David Cordani purchased 4,134 shares of Cigna Group stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 157,935 shares in the company, valued at approximately $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the sale, the insider directly owned 51,182 shares in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CI shares. UBS Group set a $294.00 price target on Cigna Group in a report on Wednesday, November 12th. Sanford C. Bernstein cut their target price on Cigna Group from $346.00 to $294.00 and set a “market perform” rating for the company in a research note on Wednesday, November 12th. JPMorgan Chase & Co. decreased their price target on shares of Cigna Group from $428.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 4th. Leerink Partners lowered their price target on shares of Cigna Group from $300.00 to $270.00 in a report on Friday, October 31st. Finally, Guggenheim reaffirmed a “buy” rating and set a $318.00 price objective on shares of Cigna Group in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.