Allspring Global Investments Holdings LLC Buys 22,145 Shares of Cigna Group $CI

Allspring Global Investments Holdings LLC raised its stake in Cigna Group (NYSE:CI) by 9.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 259,157 shares of the health services provider’s stock after acquiring an additional 22,145 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Cigna Group were worth $86,660,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CI. Brighton Jones LLC grew its position in shares of Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after buying an additional 318 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Cigna Group by 79.0% in the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock valued at $1,775,000 after buying an additional 2,381 shares during the last quarter. Dynamic Advisor Solutions LLC grew its position in shares of Cigna Group by 1.1% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,219 shares of the health services provider’s stock valued at $1,059,000 after buying an additional 36 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Cigna Group by 7.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 3,417 shares of the health services provider’s stock valued at $1,124,000 after purchasing an additional 229 shares during the period. Finally, CHB Investment Group LLC lifted its stake in shares of Cigna Group by 1.9% in the 1st quarter. CHB Investment Group LLC now owns 7,870 shares of the health services provider’s stock valued at $2,589,000 after purchasing an additional 144 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. Guggenheim reissued a “buy” rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $365.00 price objective on shares of Cigna Group in a research note on Tuesday, August 26th. Truist Financial set a $375.00 price objective on Cigna Group in a research note on Tuesday, September 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Cigna Group presently has a consensus rating of “Moderate Buy” and an average target price of $372.69.

Insider Activity at Cigna Group

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 value of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares of the company’s stock, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the sale, the insider directly owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

Cigna Group Stock Down 1.7%

CI stock opened at $295.60 on Tuesday. The stock’s 50 day simple moving average is $295.25 and its 200 day simple moving average is $308.92. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week 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. The company has a market cap of $78.90 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The business had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. During the same period in the prior year, the business earned $6.72 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders 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 annualized dividend and a dividend yield of 2.0%. Cigna Group’s dividend 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.