Oppenheimer Asset Management Inc. Reduces Holdings in Cigna Group $CI

Oppenheimer Asset Management Inc. decreased its position in Cigna Group (NYSE:CI) by 15.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,609 shares of the health services provider’s stock after selling 5,026 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Cigna Group were worth $8,796,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Modern Wealth Management LLC grew its stake in shares of Cigna Group by 91.3% in the 1st quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock valued at $1,030,000 after buying an additional 1,494 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Cigna Group by 3.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock valued at $11,882,000 after buying an additional 1,357 shares during the period. Acadian Asset Management LLC boosted its position in shares of Cigna Group by 277.5% during the 1st quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock worth $2,718,000 after purchasing an additional 6,082 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Cigna Group during the 1st quarter worth approximately $431,000. Finally, Pzena Investment Management LLC boosted its position in shares of Cigna Group by 9.7% during the 2nd quarter. Pzena Investment Management LLC now owns 523,600 shares of the health services provider’s stock worth $173,092,000 after purchasing an additional 46,140 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction 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 sale, the insider directly owned 51,182 shares in the company, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 25,648 shares in the company, valued at $7,694,400. The trade was a 52.66% 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.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cigna Group in a research report on Friday. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on shares of Cigna Group and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Truist Financial set a $375.00 price objective on shares of Cigna Group in a research report on Tuesday, September 2nd. Guggenheim reaffirmed a “buy” rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Cigna Group currently has a consensus rating of “Moderate Buy” and an average target price of $369.89.

Cigna Group Price Performance

Cigna Group stock opened at $301.84 on Monday. The firm has a market cap of $80.57 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45. Cigna Group has a 52-week low of $256.89 and a 52-week high of $350.00. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $299.22 and its two-hundred day moving average is $307.54.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the business earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

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 issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, December 4th. Cigna Group’s dividend payout ratio (DPR) is presently 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.