AQR Capital Management LLC Lowers Stock Holdings in Cigna Group $CI

AQR Capital Management LLC trimmed its position in Cigna Group (NYSE:CI) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,136,394 shares of the health services provider’s stock after selling 13,299 shares during the period. AQR Capital Management LLC owned 0.43% of Cigna Group worth $372,612,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $3,893,727,000 after purchasing an additional 123,479 shares during the period. Dodge & Cox increased its stake in shares of Cigna Group by 0.7% during 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. Valeo Financial Advisors LLC raised its holdings in Cigna Group by 86,071.1% in the 2nd quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after purchasing an additional 3,471,249 shares in the last quarter. Finally, Norges Bank bought a new stake in Cigna Group during the 2nd quarter valued at approximately $1,110,426,000. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Trading Up 0.9%

CI stock opened at $274.70 on Friday. Cigna Group has a twelve month low of $239.51 and a twelve month high of $350.00. The firm’s fifty day simple moving average is $280.44 and its two-hundred day simple moving average is $294.17. The stock has a market capitalization of $73.38 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 0.99 and a beta of 0.26. 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 (NYSE:CI) last issued its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. The firm had revenue of $69.57 billion during the quarter, compared to analyst estimates of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.Cigna Group’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.2%. Cigna Group’s dividend payout ratio is 26.64%.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction on 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 completion of the sale, the insider directly owned 51,182 shares of the company’s stock, valued at $15,354,600. The trade was a 9.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Cordani bought 4,134 shares of the stock in a transaction on Monday, November 3rd. The stock was purchased at an average price of $241.88 per share, with a total value of $999,931.92. Following the completion of the acquisition, the chief executive officer directly owned 157,935 shares in the company, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CI. Leerink Partners lowered their price target on shares of Cigna Group from $300.00 to $270.00 in a research report on Friday, October 31st. Wells Fargo & Company lowered their price objective on shares of Cigna Group from $354.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Robert W. Baird lowered their price objective on shares of Cigna Group from $372.00 to $315.00 and set an “outperform” rating on the stock in a research note on Thursday. Guggenheim reaffirmed a “buy” rating and set a $318.00 price target on shares of Cigna Group in a report on Tuesday, December 2nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $310.00 target price on shares of Cigna Group in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $331.77.

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.