Shell Asset Management Co. Grows Stock Holdings in Cigna Group $CI

Shell Asset Management Co. lifted its holdings in Cigna Group (NYSE:CI) by 42.3% during the second quarter, Holdings Channel reports. The fund owned 20,768 shares of the health services provider’s stock after buying an additional 6,173 shares during the quarter. Shell Asset Management Co.’s holdings in Cigna Group were worth $6,865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Flaharty Asset Management LLC acquired a new stake in Cigna Group during the 1st quarter worth about $28,000. 1248 Management LLC purchased a new stake in shares of Cigna Group in the first quarter worth about $29,000. Activest Wealth Management boosted its stake in shares of Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after buying an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC grew its holdings in Cigna Group by 74.1% during the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after acquiring an additional 43 shares during the period. Finally, Saudi Central Bank purchased a new position in Cigna Group during the first quarter valued at approximately $36,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Price Performance

Shares of NYSE CI opened at $303.30 on Tuesday. 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 firm has a fifty day moving average of $292.64 and a 200 day moving average of $309.56. The firm has a market cap of $80.96 billion, a PE ratio of 16.56, a PEG ratio of 0.91 and a beta of 0.45. Cigna Group has a one year low of $256.89 and a one year high of $358.88.

Cigna Group (NYSE:CI) last announced its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.15 by $0.05. The business 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 company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, research analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio is presently 32.97%.

Wall Street Analyst Weigh In

Several research firms have commented on CI. Truist Financial set a $375.00 price objective on Cigna Group in a research report on Tuesday, September 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cigna Group in a research note on Saturday, September 27th. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a report on Thursday, August 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Finally, Wells Fargo & Company lowered their target price on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $371.81.

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of Cigna Group 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 sale, the insider directly owned 25,648 shares of the company’s stock, valued at $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by company insiders.

Cigna Group 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.