Cigna Group $CI Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its stake in shares of Cigna Group (NYSE:CI) by 5.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,310 shares of the health services provider’s stock after selling 5,361 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cigna Group were worth $26,008,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. SCS Capital Management LLC lifted its holdings in shares of Cigna Group by 39.1% in the 2nd quarter. SCS Capital Management LLC now owns 30,633 shares of the health services provider’s stock valued at $10,127,000 after buying an additional 8,609 shares during the period. Retirement Systems of Alabama grew its stake in shares of Cigna Group by 3.9% during the 2nd quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock worth $54,707,000 after purchasing an additional 6,155 shares during the period. Natixis increased its holdings in shares of Cigna Group by 69.5% in the 2nd quarter. Natixis now owns 223,884 shares of the health services provider’s stock valued at $74,012,000 after purchasing an additional 91,794 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Cigna Group by 3.9% in the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock valued at $11,882,000 after buying an additional 1,357 shares in the last quarter. Finally, Oak Thistle LLC acquired a new stake in shares of Cigna Group during the 3rd quarter valued at approximately $4,958,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David Cordani bought 4,134 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the completion of the acquisition, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of several research reports. The Goldman Sachs Group reduced their price objective on Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Sanford C. Bernstein reissued a “market perform” rating and issued a $307.00 price objective on shares of Cigna Group in a research note on Tuesday, January 6th. Truist Financial lifted their target price on shares of Cigna Group from $310.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, January 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Cigna Group from $415.00 to $301.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, TD Cowen set a $333.00 price target on Cigna Group in a research report on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cigna Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $330.36.

Cigna Group Trading Down 0.4%

Shares of Cigna Group stock opened at $279.31 on Friday. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. The business’s fifty day moving average is $274.46 and its two-hundred day moving average is $285.63. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The firm has a market cap of $74.61 billion, a PE ratio of 12.32, a P/E/G ratio of 0.98 and a beta of 0.26.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, beating the consensus estimate of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The firm had revenue of $69.57 billion during the quarter, compared to analyst estimates of $66.40 billion. During the same period in the prior year, the firm posted $7.51 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Company Profile

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.