Conning Inc. Boosts Stake in Cigna Group $CI

Conning Inc. lifted its holdings in Cigna Group (NYSE:CI) by 5,375.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,468 shares of the health services provider’s stock after purchasing an additional 102,560 shares during the period. Conning Inc.’s holdings in Cigna Group were worth $30,113,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of CI. Massachusetts Financial Services Co. MA increased its position in shares of Cigna Group by 1.1% in 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 in the last quarter. Dodge & Cox lifted its position in shares of Cigna Group by 0.7% during the 2nd 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 in the last quarter. Valeo Financial Advisors LLC grew its stake 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 valued at $1,148,859,000 after acquiring an additional 3,471,249 shares during the period. Norges Bank purchased a new stake in Cigna Group in the 2nd quarter worth $1,110,426,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Cigna Group by 24.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,508,740 shares of the health services provider’s stock worth $829,339,000 after acquiring an additional 492,045 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Mizuho set a $325.00 price objective on shares of Cigna Group in a report on Friday, January 9th. JPMorgan Chase & Co. reduced their price target on shares of Cigna Group from $428.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, November 4th. Robert W. Baird lowered their price objective on Cigna Group from $372.00 to $315.00 and set an “outperform” rating on the stock in a report on Thursday, December 11th. The Goldman Sachs Group reduced their target price on Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $307.00 price target on shares of Cigna Group in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $330.48.

Insiders Place Their Bets

In other news, CEO David Cordani bought 4,134 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the acquisition, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at $38,201,317.80. This trade represents a 2.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by insiders.

Cigna Group Price Performance

CI stock opened at $272.03 on Thursday. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $72.67 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 0.96 and a beta of 0.26. The business has a 50 day simple moving average of $273.04 and a 200-day simple moving average of $287.88.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share 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 company had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. During the same quarter in the previous year, the company posted $7.51 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.2%. Cigna Group’s payout ratio is 26.64%.

About Cigna Group

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.