Red Spruce Capital LLC Sells 105 Shares of Cigna Group $CI

Red Spruce Capital LLC lessened its position in Cigna Group (NYSE:CI) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,096 shares of the health services provider’s stock after selling 105 shares during the quarter. Cigna Group accounts for approximately 1.3% of Red Spruce Capital LLC’s portfolio, making the stock its 29th largest holding. Red Spruce Capital LLC’s holdings in Cigna Group were worth $3,007,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Two Sigma Investments LP raised its stake in shares of Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider’s stock worth $211,219,000 after acquiring an additional 188,235 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Cigna Group during the first quarter worth approximately $123,000. SBI Securities Co. Ltd. raised its stake in shares of Cigna Group by 18.8% during the first quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider’s stock worth $131,000 after acquiring an additional 63 shares in the last quarter. Modern Wealth Management LLC raised its stake in shares of Cigna Group by 91.3% during the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock worth $1,030,000 after acquiring an additional 1,494 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Cigna Group by 2.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,929 shares of the health services provider’s stock worth $16,427,000 after acquiring an additional 1,026 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the sale, the insider owned 25,648 shares in the company, valued at approximately $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 accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CI. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a report on Thursday, August 14th. Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $374.76.

Cigna Group Stock Performance

NYSE:CI opened at $302.71 on Monday. The stock has a market cap of $80.80 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 0.89 and a beta of 0.48. The firm’s fifty day simple moving average is $295.47 and its 200 day simple moving average is $312.10. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. 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 (NYSE:CI) last released 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 analysts’ expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $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 year.

Cigna Group Dividend Announcement

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

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.