Motco Decreases Stake in Cigna Group $CI

Motco reduced its stake in Cigna Group (NYSE:CI) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 13,843 shares of the health services provider’s stock after selling 231 shares during the period. Motco’s holdings in Cigna Group were worth $4,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Austin Private Wealth LLC purchased a new position in shares of Cigna Group in the 2nd quarter valued at approximately $352,000. James Investment Research Inc. increased its holdings in Cigna Group by 47.9% in the 2nd quarter. James Investment Research Inc. now owns 8,880 shares of the health services provider’s stock worth $2,936,000 after buying an additional 2,876 shares during the period. Howard Capital Management Inc. increased its holdings in Cigna Group by 4.8% in the 2nd quarter. Howard Capital Management Inc. now owns 1,826 shares of the health services provider’s stock worth $604,000 after buying an additional 84 shares during the period. Purkiss Capital Advisors LLC acquired a new position in Cigna Group in the 2nd quarter worth approximately $412,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Cigna Group by 20.2% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 57,104 shares of the health services provider’s stock worth $18,877,000 after buying an additional 9,600 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the transaction, the insider owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 value of $1,610,400.00. Following the transaction, the insider owned 51,182 shares in the company, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CI has been the topic of several research reports. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a “buy” rating in a report on Tuesday, August 5th. Barclays increased their price target on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. The Goldman Sachs Group initiated coverage on shares of Cigna Group in a report on Tuesday, October 14th. They issued a “buy” rating and a $370.00 price target on the stock. Wells Fargo & Company increased their price target on shares of Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Finally, Robert W. Baird set a $372.00 price target on shares of Cigna Group in a report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cigna Group has an average rating of “Moderate Buy” and a consensus price target of $369.89.

Cigna Group Price Performance

Shares of NYSE CI opened at $309.10 on Wednesday. The stock has a market capitalization of $82.51 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 0.91 and a beta of 0.45. Cigna Group has a 12 month low of $256.89 and a 12 month high of $350.00. The firm’s 50 day simple moving average is $299.57 and its 200-day simple moving average is $307.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick 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 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 analysts’ expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business’s revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be paid a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.

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.