Federation des caisses Desjardins du Quebec Cuts Position in Cigna Group $CI

Federation des caisses Desjardins du Quebec cut its stake in Cigna Group (NYSE:CI) by 25.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,369 shares of the health services provider’s stock after selling 6,948 shares during the quarter. Federation des caisses Desjardins du Quebec’s holdings in Cigna Group were worth $6,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Cigna Group by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after acquiring an additional 1,094,327 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Cigna Group by 0.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock valued at $3,834,493,000 after acquiring an additional 98,715 shares during the period. Dodge & Cox increased its holdings in shares of Cigna Group by 1.3% in the 1st quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider’s stock valued at $2,924,722,000 after acquiring an additional 117,125 shares during the period. GQG Partners LLC increased its holdings in shares of Cigna Group by 21.5% in the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock valued at $1,607,716,000 after acquiring an additional 865,092 shares during the period. Finally, Parnassus Investments LLC increased its holdings in shares of Cigna Group by 3.1% in the 1st quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider’s stock valued at $949,357,000 after acquiring an additional 86,602 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CI shares. Cantor Fitzgerald restated an “overweight” rating and set a $365.00 target price on shares of Cigna Group in a research note on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Royal Bank Of Canada restated an “outperform” rating and set a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Guggenheim restated a “buy” rating and set a $350.00 target price (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Wall Street Zen downgraded Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $373.06.

Cigna Group Stock Down 0.2%

Cigna Group stock opened at $300.19 on Thursday. 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 business’s 50-day simple moving average is $298.61 and its two-hundred day simple moving average is $311.83. The company has a market cap of $80.13 billion, a PE ratio of 16.39, a PEG ratio of 0.88 and a beta of 0.48. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $370.83.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share 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 the consensus estimate of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, September 4th. Cigna Group’s payout ratio is 32.97%.

Insider Activity

In other news, insider Nicole S. Jones sold 28,526 shares of the business’s 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 completion of the transaction, the insider owned 25,648 shares of the company’s stock, valued at $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

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.