Freedom Investment Management Inc. Reduces Stock Position in Cigna Group $CI

Freedom Investment Management Inc. cut its stake in Cigna Group (NYSE:CI) by 13.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,503 shares of the health services provider’s stock after selling 532 shares during the period. Freedom Investment Management Inc.’s holdings in Cigna Group were worth $1,158,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Flaharty Asset Management LLC purchased a new position in Cigna Group in the first quarter valued at about $28,000. 1248 Management LLC purchased a new position in Cigna Group in the first quarter valued at about $29,000. Activest Wealth Management increased its holdings in Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after buying an additional 72 shares in the last quarter. Princeton Global Asset Management LLC increased its holdings in Cigna Group by 115.6% in the second 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 in the last quarter. Finally, Retirement Wealth Solutions LLC grew its position in shares of Cigna Group by 74.1% in the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock valued at $33,000 after purchasing an additional 43 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Stock Performance

Shares of CI opened at $305.08 on Friday. 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 company has a market capitalization of $81.43 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 0.90 and a beta of 0.45. The company’s 50 day simple moving average is $299.12 and its 200 day simple moving average is $307.74. Cigna Group has a 1 year low of $256.89 and a 1 year high of $350.00.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) 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 net margin of 1.92% and a return on equity of 18.80%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders 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 yield of 2.0%. Cigna Group’s dividend payout ratio (DPR) is currently 32.97%.

Analyst Ratings Changes

Several research firms have recently commented on CI. Wall Street Zen lowered shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cigna Group in a research report on Wednesday, October 8th. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. The Goldman Sachs Group began coverage on shares of Cigna Group in a research report on Tuesday, October 14th. They issued a “buy” rating and a $370.00 price target on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $369.89.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred 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 transaction, the insider owned 25,648 shares of the company’s stock, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Cigna Group Company 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.