Bath Savings Trust Co Trims Stock Holdings in Cigna Group $CI

Bath Savings Trust Co decreased its stake in Cigna Group (NYSE:CI) by 15.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,337 shares of the health services provider’s stock after selling 950 shares during the period. Bath Savings Trust Co’s holdings in Cigna Group were worth $1,764,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Modern Wealth Management LLC increased its position in Cigna Group by 91.3% in the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock worth $1,030,000 after buying an additional 1,494 shares in the last quarter. NBC Securities Inc. purchased a new stake in Cigna Group in the first quarter worth about $123,000. Dynamic Technology Lab Private Ltd purchased a new stake in Cigna Group in the first quarter worth about $431,000. SBI Securities Co. Ltd. increased its position in Cigna Group by 18.8% in the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider’s stock worth $131,000 after buying an additional 63 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Cigna Group by 2.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,929 shares of the health services provider’s stock worth $16,427,000 after buying an additional 1,026 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CI. Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Truist Financial set a $375.00 target price on Cigna Group in a research report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Barclays increased their target price on Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Finally, Wells Fargo & Company cut their target price on Cigna Group from $341.00 to $340.00 and set an “equal weight” rating for the company in a research report on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $371.81.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 28,526 shares of the firm’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 value of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares of the company’s stock, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by corporate insiders.

Cigna Group Stock Performance

NYSE CI opened at $296.70 on Thursday. The stock has a market capitalization of $79.20 billion, a PE ratio of 16.20, a P/E/G ratio of 0.86 and a beta of 0.48. The business has a 50 day simple moving average of $294.53 and a two-hundred day simple moving average of $311.79. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 1-year low of $256.89 and a 1-year high of $362.25.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating the consensus estimate of $7.15 by $0.05. The business had revenue of $67.13 billion during 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 firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group’s dividend payout ratio (DPR) is currently 32.97%.

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.