Cigna Group $CI Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lowered its holdings in shares of Cigna Group (NYSE:CI) by 2.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,073 shares of the health services provider’s stock after selling 500 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cigna Group were worth $7,627,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Flaharty Asset Management LLC acquired a new position in shares of Cigna Group during the 1st quarter worth approximately $28,000. 1248 Management LLC purchased a new position in Cigna Group during the first quarter valued at $29,000. Activest Wealth Management boosted its holdings in Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after buying an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC raised its holdings in shares of Cigna Group by 74.1% during the second 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 last quarter. Finally, Saudi Central Bank acquired a new stake in shares of Cigna Group in the first quarter worth approximately $36,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CI. Wells Fargo & Company raised their price objective on Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research note on Thursday, August 14th. Truist Financial set a $375.00 price objective on shares of Cigna Group in a research note on Tuesday, September 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $372.69.

Insider Activity at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Cigna Group Stock Down 1.7%

CI stock opened at $301.00 on Monday. The firm has a market cap of $80.35 billion, a PE ratio of 16.43, a PEG ratio of 0.88 and a beta of 0.45. Cigna Group has a one year low of $256.89 and a one year high of $358.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day moving average price is $294.68 and its 200-day moving average price is $309.12.

Cigna Group (NYSE:CI) last posted its earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities research analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

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