The Manufacturers Life Insurance Company Sells 6,413 Shares of Cigna Group $CI

The Manufacturers Life Insurance Company trimmed its holdings in Cigna Group (NYSE:CI) by 0.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 752,125 shares of the health services provider’s stock after selling 6,413 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.28% of Cigna Group worth $248,637,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Financial Network Wealth Advisors LLC boosted its position in shares of Cigna Group by 26.8% during the first quarter. Financial Network Wealth Advisors LLC now owns 161 shares of the health services provider’s stock worth $53,000 after acquiring an additional 34 shares during the last quarter. Central Pacific Bank Trust Division lifted its stake in Cigna Group by 1.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 3,440 shares of the health services provider’s stock worth $1,137,000 after purchasing an additional 35 shares in the last quarter. NDVR Inc. boosted its holdings in shares of Cigna Group by 5.0% during the 2nd quarter. NDVR Inc. now owns 779 shares of the health services provider’s stock valued at $258,000 after purchasing an additional 37 shares during the last quarter. HBK Sorce Advisory LLC grew its position in shares of Cigna Group by 3.1% during the second quarter. HBK Sorce Advisory LLC now owns 1,263 shares of the health services provider’s stock valued at $418,000 after purchasing an additional 38 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its holdings in shares of Cigna Group by 2.9% in the first quarter. Legacy Financial Advisors Inc. now owns 1,400 shares of the health services provider’s stock worth $461,000 after purchasing an additional 39 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Stock Down 0.1%

NYSE CI opened at $262.49 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Cigna Group has a 52 week low of $239.51 and a 52 week high of $350.00. The firm has a market capitalization of $70.12 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.95 and a beta of 0.26. The company has a fifty day moving average of $281.66 and a two-hundred day moving average of $294.61.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. The firm had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company earned $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wolfe Research cut their price target on Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a report on Thursday, August 14th. Guggenheim restated a “buy” rating and issued a $318.00 price target on shares of Cigna Group in a research report on Tuesday, December 2nd. Wells Fargo & Company lowered their price objective on shares of Cigna Group from $354.00 to $300.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Finally, Cowen restated a “buy” rating on shares of Cigna Group in a report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $334.45.

Insider Activity at Cigna Group

In other 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 sale, the insider directly 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani acquired 4,134 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired 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 in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.70% of the company’s stock.

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.