Amalgamated Bank Has $17.51 Million Stock Holdings in Cigna Group $CI

Amalgamated Bank cut its position in shares of Cigna Group (NYSE:CI) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,960 shares of the health services provider’s stock after selling 1,410 shares during the quarter. Amalgamated Bank’s holdings in Cigna Group were worth $17,508,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Atria Investments Inc boosted its holdings in Cigna Group by 4.1% during the second quarter. Atria Investments Inc now owns 18,486 shares of the health services provider’s stock valued at $6,111,000 after purchasing an additional 725 shares in the last quarter. Savvy Advisors Inc. acquired a new stake in Cigna Group during the second quarter valued at approximately $292,000. Retirement Systems of Alabama boosted its holdings in Cigna Group by 3.9% during the second quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after purchasing an additional 6,155 shares in the last quarter. Assetmark Inc. boosted its holdings in Cigna Group by 28.9% during the second quarter. Assetmark Inc. now owns 60,925 shares of the health services provider’s stock valued at $20,141,000 after purchasing an additional 13,675 shares in the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in Cigna Group by 3.1% during the second quarter. HBK Sorce Advisory LLC now owns 1,263 shares of the health services provider’s stock valued at $418,000 after purchasing an additional 38 shares in the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on CI. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cigna Group in a report on Wednesday, October 8th. Truist Financial set a $375.00 price objective on Cigna Group in a report on Tuesday, September 2nd. Wolfe Research decreased their price objective on Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. Wells Fargo & Company lifted their price objective on Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, The Goldman Sachs Group initiated coverage on shares of Cigna Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $370.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $369.89.

Insider Activity at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares in the company, valued at $7,694,400. The trade was a 52.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the transaction, the insider owned 51,182 shares of the company’s stock, 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. Insiders own 0.70% of the company’s stock.

Cigna Group Stock Performance

NYSE:CI opened at $247.11 on Friday. 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 firm has a 50 day moving average of $298.38 and a 200-day moving average of $306.70. Cigna Group has a 1 year low of $245.61 and a 1 year high of $350.00. The stock has a market capitalization of $65.96 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45.

Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, topping the consensus estimate of $7.64 by $0.19. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. During the same quarter in the previous year, the company posted $7.51 EPS. Cigna Group’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.4%. The ex-dividend date is Thursday, December 4th. Cigna Group’s payout ratio is 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.