Conning Inc. Sells 43 Shares of Cigna Group $CI

Conning Inc. lowered its holdings in shares of Cigna Group (NYSE:CI) by 2.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,908 shares of the health services provider’s stock after selling 43 shares during the period. Conning Inc.’s holdings in Cigna Group were worth $631,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Brighton Jones LLC lifted its stake in shares of Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after acquiring an additional 318 shares during the last quarter. GAMMA Investing LLC grew its position in Cigna Group by 79.0% during the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock worth $1,775,000 after acquiring an additional 2,381 shares during the last quarter. Fifth Third Bancorp increased its holdings in Cigna Group by 3.4% in the 1st quarter. Fifth Third Bancorp now owns 26,314 shares of the health services provider’s stock worth $8,657,000 after purchasing an additional 874 shares in the last quarter. Thomasville National Bank bought a new position in Cigna Group in the first quarter valued at about $201,000. Finally, NorthCrest Asset Manangement LLC boosted its stake in shares of Cigna Group by 14.6% during the first quarter. NorthCrest Asset Manangement LLC now owns 11,327 shares of the health services provider’s stock valued at $3,727,000 after purchasing an additional 1,446 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CI. Robert W. Baird set a $372.00 price objective on Cigna Group in a research note on Thursday, August 14th. Wall Street Zen cut shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Guggenheim reissued a “buy” rating and issued a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Truist Financial set a $375.00 target price on Cigna Group in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $372.69.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction on Friday, August 15th. The shares were 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 approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the insider directly owned 51,182 shares in the company, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Cigna Group Price Performance

CI stock opened at $301.00 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $294.68 and its 200 day simple moving average is $309.23. Cigna Group has a 12-month low of $256.89 and a 12-month high of $358.88. The firm has a market cap of $80.35 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.88 and a beta of 0.45.

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

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group’s payout ratio is currently 32.97%.

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.