Fifth Third Bancorp Acquires 194 Shares of Cigna Group $CI

Fifth Third Bancorp lifted its holdings in Cigna Group (NYSE:CI) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,508 shares of the health services provider’s stock after acquiring an additional 194 shares during the period. Fifth Third Bancorp’s holdings in Cigna Group were worth $8,763,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Flaharty Asset Management LLC bought a new position in shares of Cigna Group in the 1st quarter valued at about $28,000. 1248 Management LLC purchased a new stake in Cigna Group in the 1st quarter worth about $29,000. Activest Wealth Management raised its position 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 purchasing an additional 72 shares during the period. Retirement Wealth Solutions LLC raised its position in Cigna Group by 74.1% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after purchasing an additional 43 shares during the period. Finally, Saudi Central Bank purchased a new stake in Cigna Group in the 1st quarter worth about $36,000. Institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In related 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 sale, the insider owned 25,648 shares of the company’s stock, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on CI shares. Wells Fargo & Company reduced their price objective on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $365.00 price objective on shares of Cigna Group in a research report on Tuesday, August 26th. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Guggenheim reissued a “buy” rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Wall Street Zen raised shares of Cigna Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has an average rating of “Buy” and an average target price of $371.81.

Cigna Group Stock Performance

Shares of NYSE:CI opened at $284.06 on Friday. The firm has a market cap of $75.83 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.85 and a beta of 0.48. The firm’s 50 day simple moving average is $292.89 and its 200-day simple moving average is $310.72. 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.

Cigna Group (NYSE:CI) last issued its quarterly earnings data 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. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a $1.51 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.1%. Cigna Group’s payout ratio is 32.97%.

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.