City Holding Co. Sells 110 Shares of Cigna Group $CI

City Holding Co. decreased its stake in shares of Cigna Group (NYSE:CI) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,807 shares of the health services provider’s stock after selling 110 shares during the period. City Holding Co.’s holdings in Cigna Group were worth $1,258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tritonpoint Wealth LLC bought a new position in Cigna Group during the second quarter valued at approximately $210,000. Sonora Investment Management Group LLC raised its position in Cigna Group by 5.5% in the second quarter. Sonora Investment Management Group LLC now owns 859 shares of the health services provider’s stock worth $284,000 after acquiring an additional 45 shares during the period. Willow Creek Wealth Management Inc. bought a new position in Cigna Group in the second quarter worth approximately $239,000. RBA Wealth Management LLC raised its position in Cigna Group by 5.1% in the second quarter. RBA Wealth Management LLC now owns 12,586 shares of the health services provider’s stock worth $4,161,000 after acquiring an additional 606 shares during the period. Finally, Hengehold Capital Management LLC raised its position in Cigna Group by 4.8% in the second quarter. Hengehold Capital Management LLC now owns 2,054 shares of the health services provider’s stock worth $679,000 after acquiring an additional 95 shares during the period. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of several recent research reports. Barclays increased their price target on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Guggenheim reiterated a “buy” rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $371.81.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 28,526 shares of the firm’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 completion of the transaction, the insider directly owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.70% of the company’s stock.

Cigna Group Stock Up 0.7%

Shares of CI stock opened at $286.04 on Monday. The company has a market capitalization of $76.35 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 0.84 and a beta of 0.48. Cigna Group has a one year low of $256.89 and a one year high of $358.88. The company’s fifty day moving average price is $292.71 and its 200-day moving average price is $310.49. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. The firm had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group’s dividend payout ratio (DPR) is presently 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.