Wright Investors Service Inc. Decreases Stake in Cigna Group $CI

Wright Investors Service Inc. trimmed its holdings in Cigna Group (NYSE:CI) by 16.3% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 10,683 shares of the health services provider’s stock after selling 2,085 shares during the quarter. Wright Investors Service Inc.’s holdings in Cigna Group were worth $3,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Harbor Capital Advisors Inc. raised its holdings in shares of Cigna Group by 119.5% during the third quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 49 shares during the last quarter. Solstein Capital LLC bought a new stake in Cigna Group in the 2nd quarter worth approximately $29,000. Chilton Capital Management LLC purchased a new stake in Cigna Group during the 2nd quarter valued at $30,000. Princeton Global Asset Management LLC lifted its holdings in shares of Cigna Group by 115.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock valued at $32,000 after buying an additional 52 shares during the period. Finally, Quaker Wealth Management LLC lifted its holdings in shares of Cigna Group by 201.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 106 shares of the health services provider’s stock valued at $35,000 after buying an additional 211 shares during the period. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CI. JPMorgan Chase & Co. reduced their price objective on Cigna Group from $428.00 to $375.00 and set an “overweight” rating for the company in a research report on Tuesday, November 4th. Cowen set a $333.00 price target on shares of Cigna Group in a research report on Monday, December 15th. Zacks Research upgraded shares of Cigna Group from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Robert W. Baird reduced their target price on shares of Cigna Group from $372.00 to $315.00 and set an “outperform” rating for the company in a report on Thursday, December 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $310.00 price target on shares of Cigna Group in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $330.48.

Insiders Place Their Bets

In other Cigna Group news, CEO David Cordani purchased 4,134 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the purchase, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at $38,201,317.80. This trade represents a 2.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.70% of the stock is owned by insiders.

Cigna Group Price Performance

Shares of NYSE:CI opened at $277.82 on Friday. The company has a market capitalization of $74.21 billion, a P/E ratio of 12.25, a P/E/G ratio of 0.95 and a beta of 0.26. Cigna Group has a 1-year low of $239.51 and a 1-year high of $350.00. The firm’s 50 day simple moving average is $273.48 and its two-hundred day simple moving average is $287.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, beating the consensus estimate of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The firm had revenue of $69.57 billion for the quarter, compared to the consensus estimate of $66.40 billion. During the same period last year, the firm earned $7.51 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a $1.51 dividend. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.2%. Cigna Group’s payout ratio is currently 26.64%.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.