Gradient Investments LLC Sells 653 Shares of Cigna Group $CI

Gradient Investments LLC cut its holdings in shares of Cigna Group (NYSE:CI) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,613 shares of the health services provider’s stock after selling 653 shares during the period. Gradient Investments LLC’s holdings in Cigna Group were worth $13,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Flaharty Asset Management LLC acquired a new position in Cigna Group in the 1st quarter valued at approximately $28,000. 1248 Management LLC acquired a new position in Cigna Group in the 1st quarter valued at approximately $29,000. Activest Wealth Management increased its position in Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 72 shares during the period. Retirement Wealth Solutions LLC increased its position in Cigna Group by 74.1% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock valued at $33,000 after acquiring an additional 43 shares during the period. Finally, Putney Financial Group LLC acquired a new position in Cigna Group in the 4th quarter valued at approximately $36,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Price Performance

Cigna Group stock opened at $297.31 on Tuesday. The stock has a market capitalization of $79.36 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 0.89 and a beta of 0.48. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83. The stock’s 50 day moving average price is $295.15 and its two-hundred day moving average price is $312.02. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to analysts’ expectations of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the prior year, the business earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 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 2.0%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group’s dividend payout ratio is presently 32.97%.

Insider Buying and Selling at Cigna Group

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 transaction of $8,557,800.00. Following the transaction, the insider directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the company. Robert W. Baird set a $372.00 target price on Cigna Group in a report on Thursday, August 14th. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Wells Fargo & Company reduced their target price on Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a report on Thursday, August 14th. Guggenheim reiterated a “buy” rating and issued a $350.00 target price (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Finally, Barclays upped their target price on Cigna Group from $354.00 to $383.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Cigna Group currently has an average rating of “Buy” and an average target price of $374.76.

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.