Legal & General Group Plc Cuts Stock Holdings in Cigna Group $CI

Legal & General Group Plc lessened its stake in Cigna Group (NYSE:CI) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,967,326 shares of the health services provider’s stock after selling 33,088 shares during the quarter. Legal & General Group Plc’s holdings in Cigna Group were worth $650,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after acquiring an additional 318 shares during the last quarter. PFG Advisors grew its holdings in shares of Cigna Group by 5.2% during the 1st quarter. PFG Advisors now owns 2,750 shares of the health services provider’s stock worth $905,000 after purchasing an additional 135 shares during the period. Venturi Wealth Management LLC increased its position in Cigna Group by 98.8% during the 1st quarter. Venturi Wealth Management LLC now owns 851 shares of the health services provider’s stock worth $280,000 after purchasing an additional 423 shares in the last quarter. AE Wealth Management LLC raised its holdings in Cigna Group by 7.2% in the first quarter. AE Wealth Management LLC now owns 4,056 shares of the health services provider’s stock valued at $1,335,000 after buying an additional 274 shares during the period. Finally, Carnegie Investment Counsel lifted its position in Cigna Group by 4.1% during the first quarter. Carnegie Investment Counsel now owns 3,490 shares of the health services provider’s stock valued at $1,103,000 after buying an additional 136 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Trading Up 3.2%

Shares of CI opened at $278.12 on Friday. 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 has a one year low of $239.51 and a one year high of $350.00. The stock has a 50-day moving average price of $286.74 and a 200 day moving average price of $299.18. The company has a market capitalization of $74.29 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.88 and a beta of 0.44.

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

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be given a $1.51 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group’s payout ratio is presently 26.64%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CI shares. Guggenheim reduced their target price on shares of Cigna Group from $350.00 to $309.00 in a report on Friday, October 31st. Wolfe Research reduced their price objective on Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Wall Street Zen raised Cigna Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Truist Financial dropped their target price on Cigna Group from $375.00 to $310.00 in a report on Friday, October 31st. Finally, Zacks Research cut Cigna Group from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $334.05.

Insider Transactions at Cigna Group

In other news, CEO David Cordani acquired 4,134 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $241.88 per share, with a total value of $999,931.92. Following the completion of the acquisition, the chief executive officer directly owned 157,935 shares in the company, valued at $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through 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 stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.70% of the company’s stock.

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.