IFM Investors Pty Ltd Boosts Stake in Cigna Group $CI

IFM Investors Pty Ltd boosted its stake in Cigna Group (NYSE:CI) by 0.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 54,677 shares of the health services provider’s stock after acquiring an additional 392 shares during the period. IFM Investors Pty Ltd’s holdings in Cigna Group were worth $17,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flaharty Asset Management LLC purchased a new stake in Cigna Group in the 1st quarter valued at approximately $28,000. 1248 Management LLC purchased a new stake in Cigna Group in the 1st quarter valued at approximately $29,000. Activest Wealth Management lifted its stake in shares of Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the period. Putney Financial Group LLC purchased a new position in shares of Cigna Group during the 4th quarter worth $36,000. Finally, Saudi Central Bank purchased a new position in shares of Cigna Group during the 1st quarter worth $36,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Stock Up 0.4%

Shares of NYSE CI opened at $302.13 on Wednesday. Cigna Group has a 12-month low of $256.89 and a 12-month high of $370.83. The company has a market cap of $80.65 billion, a P/E ratio of 16.49, a P/E/G ratio of 0.88 and a beta of 0.48. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $296.44 and a 200 day moving average price of $312.11.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $62.61 billion. During the same period in the prior year, the firm earned $6.72 EPS. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $1.51 dividend. 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 is currently 32.97%.

Analysts Set New Price Targets

A number of research analysts have weighed in on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Wells Fargo & Company reduced their price target on Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 14th. Royal Bank Of Canada reissued an “outperform” rating and set a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Guggenheim reissued a “buy” rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $374.76.

Insider Buying and Selling at Cigna Group

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

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.