Norges Bank Takes $1.11 Billion Position in Cigna Group $CI

Norges Bank purchased a new stake in shares of Cigna Group (NYSE:CI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,359,025 shares of the health services provider’s stock, valued at approximately $1,110,426,000. Norges Bank owned about 1.26% of Cigna Group at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wilsey Asset Management Inc. raised its position in Cigna Group by 2.9% in the second quarter. Wilsey Asset Management Inc. now owns 101,936 shares of the health services provider’s stock valued at $33,698,000 after purchasing an additional 2,847 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of 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 worth $54,707,000 after purchasing an additional 6,155 shares during the last quarter. Modern Wealth Management LLC raised its holdings in 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 last quarter. Janney Montgomery Scott LLC boosted its position in Cigna Group by 3.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock worth $11,882,000 after buying an additional 1,357 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in 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 acquiring an additional 6,082 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at Cigna Group

In other Cigna Group news, 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 owned 51,182 shares in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Cordani acquired 4,134 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average price of $241.88 per share, with a total value of $999,931.92. Following the acquisition, the chief executive officer owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is owned by corporate insiders.

Cigna Group Trading Down 0.4%

Shares of CI stock opened at $277.28 on Friday. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. 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 stock has a 50 day simple moving average of $284.99 and a two-hundred day simple moving average of $297.34. The company has a market cap of $74.07 billion, a P/E ratio of 15.14, a PEG ratio of 0.88 and a beta of 0.44.

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

Cigna Group Announces Dividend

The business 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 dividend of $1.51 per share. The ex-dividend date is Thursday, December 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. Cigna Group’s dividend payout ratio is currently 26.64%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Wall Street Zen upgraded shares of Cigna Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Cigna Group in a research report on Monday, November 3rd. Sanford C. Bernstein cut their target price on Cigna Group from $346.00 to $294.00 and set a “market perform” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c)” rating on shares of Cigna Group in a research report on Tuesday. Finally, Barclays reduced their target price on Cigna Group from $383.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cigna Group presently has an average rating of “Moderate Buy” and a consensus target price of $334.05.

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.