Martingale Asset Management L P Sells 30,568 Shares of Cigna Group $CI

Martingale Asset Management L P lessened its holdings in shares of Cigna Group (NYSE:CI) by 36.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,266 shares of the health services provider’s stock after selling 30,568 shares during the period. Martingale Asset Management L P’s holdings in Cigna Group were worth $17,196,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CI. Two Sigma Investments LP grew its position in shares of Cigna Group by 32.6% in the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock valued at $211,219,000 after buying an additional 188,235 shares during the last quarter. Humankind Investments LLC lifted its stake in shares of Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider’s stock worth $1,462,000 after acquiring an additional 571 shares during the period. NBC Securities Inc. bought a new stake in Cigna Group in the first quarter valued at approximately $123,000. SBI Securities Co. Ltd. increased its position in Cigna Group by 18.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider’s stock valued at $131,000 after purchasing an additional 63 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in Cigna Group by 2.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 113,584 shares of the health services provider’s stock worth $37,369,000 after purchasing an additional 2,614 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.70% of the company’s stock.

Cigna Group Stock Performance

Shares of Cigna Group stock opened at $304.49 on Thursday. The business has a 50-day simple moving average of $301.44 and a 200 day simple moving average of $311.25. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $81.28 billion, a price-to-earnings ratio of 16.62, a PEG ratio of 0.88 and a beta of 0.47.

Cigna Group (NYSE:CI) last announced its quarterly earnings data 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. 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 analysts’ expectations of $62.61 billion. During the same quarter last year, the firm posted $6.72 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

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

Analyst Upgrades and Downgrades

CI has been the topic of a number of analyst reports. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Guggenheim reaffirmed a “buy” rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Morgan Stanley increased their price target on Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $371.00 target price on shares of Cigna Group in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $374.82.

Cigna Group Company 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.