Simplify Asset Management Inc. Sells 19,815 Shares of Cigna Group $CI

Simplify Asset Management Inc. reduced its holdings in Cigna Group (NYSE:CI) by 92.8% during the 2nd quarter, Holdings Channel reports. The fund owned 1,544 shares of the health services provider’s stock after selling 19,815 shares during the quarter. Simplify Asset Management Inc.’s holdings in Cigna Group were worth $510,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Flaharty Asset Management LLC bought a new stake in shares of Cigna Group during the first quarter worth $28,000. Solstein Capital LLC bought a new stake in Cigna Group during the 2nd quarter worth about $29,000. 1248 Management LLC bought a new stake in Cigna Group during the 1st quarter worth about $29,000. Chilton Capital Management LLC acquired a new stake in Cigna Group in the 2nd quarter valued at about $30,000. Finally, Activest Wealth Management raised 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 acquiring an additional 72 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CI has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Cigna Group from $415.00 to $301.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Guggenheim lowered their target price on Cigna Group from $350.00 to $309.00 in a research note on Friday, October 31st. TD Cowen cut their price target on Cigna Group from $387.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Raymond James Financial reiterated a “strong-buy” rating on shares of Cigna Group in a research report on Monday, November 3rd. Finally, Wolfe Research dropped their price objective on Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $339.73.

Cigna Group Stock Down 2.6%

Shares of Cigna Group stock opened at $257.69 on Tuesday. The business has a fifty day simple moving average of $292.36 and a 200 day simple moving average of $302.75. The stock has a market cap of $68.84 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00.

Cigna Group (NYSE:CI) last issued its 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 was up 9.5% compared to the same quarter last year. During the same quarter last year, the business earned $7.51 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s dividend payout ratio is presently 26.64%.

Insiders Place Their Bets

In related news, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the sale, the insider owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction dated 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 transaction, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company 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.