Nordea Investment Management AB Buys 22,076 Shares of Cigna Group $CI

Nordea Investment Management AB grew its stake in shares of Cigna Group (NYSE:CI) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,941,124 shares of the health services provider’s stock after buying an additional 22,076 shares during the quarter. Nordea Investment Management AB owned 0.73% of Cigna Group worth $636,029,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Valeo Financial Advisors LLC lifted its holdings in shares of Cigna Group by 86,071.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock valued at $1,148,859,000 after purchasing an additional 3,471,249 shares during the last quarter. Nuveen LLC bought a new stake in Cigna Group in the 1st quarter worth approximately $727,905,000. Price T Rowe Associates Inc. MD grew its position in Cigna Group by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock worth $3,966,690,000 after purchasing an additional 1,094,327 shares during the period. GQG Partners LLC grew its position in Cigna Group by 21.5% in the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock worth $1,607,716,000 after purchasing an additional 865,092 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Cigna Group by 38.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider’s stock valued at $542,796,000 after acquiring an additional 457,052 shares during the period. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent analyst reports. Wolfe Research dropped their target price on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a “buy” rating in a research report on Tuesday, August 5th. Cantor Fitzgerald restated an “overweight” rating and set a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Finally, Barclays increased their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $369.89.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the transaction, the insider owned 51,182 shares in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by company insiders.

Cigna Group Stock Performance

Shares of NYSE:CI opened at $290.97 on Friday. The firm has a market cap of $77.67 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 0.86 and a beta of 0.45. The firm’s 50 day simple moving average is $296.78 and its 200-day simple moving average is $308.51. Cigna Group has a one year low of $256.89 and a one year high of $358.72. 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 earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. The business 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%. The company’s quarterly 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. Stockholders of record on Thursday, September 4th were paid a dividend of $1.51 per share. The ex-dividend date was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is currently 32.97%.

About Cigna Group

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.