iA Global Asset Management Inc. Sells 2,694 Shares of Cigna Group $CI

iA Global Asset Management Inc. trimmed its holdings in Cigna Group (NYSE:CI) by 51.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,562 shares of the health services provider’s stock after selling 2,694 shares during the quarter. iA Global Asset Management Inc.’s holdings in Cigna Group were worth $847,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Financial Network Wealth Advisors LLC grew its position in Cigna Group by 26.8% in the first quarter. Financial Network Wealth Advisors LLC now owns 161 shares of the health services provider’s stock worth $53,000 after acquiring an additional 34 shares in the last quarter. Central Pacific Bank Trust Division grew its position in Cigna Group by 1.0% in the second quarter. Central Pacific Bank Trust Division now owns 3,440 shares of the health services provider’s stock worth $1,137,000 after acquiring an additional 35 shares in the last quarter. HBK Sorce Advisory LLC grew its position in Cigna Group by 3.1% in the second quarter. HBK Sorce Advisory LLC now owns 1,263 shares of the health services provider’s stock worth $418,000 after acquiring an additional 38 shares in the last quarter. Legacy Financial Advisors Inc. grew its position in Cigna Group by 2.9% in the first quarter. Legacy Financial Advisors Inc. now owns 1,400 shares of the health services provider’s stock worth $461,000 after acquiring an additional 39 shares in the last quarter. Finally, Samalin Investment Counsel LLC grew its position in Cigna Group by 2.2% in the first quarter. Samalin Investment Counsel LLC now owns 1,792 shares of the health services provider’s stock worth $590,000 after acquiring an additional 39 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, CEO David Cordani acquired 4,134 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $241.88 per share, for a total transaction of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This represents a 2.69% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the transaction, the insider owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This represents a 9.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $310.00 price objective on shares of Cigna Group in a report on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $355.00 price objective on shares of Cigna Group in a report on Friday. Barclays decreased their price objective on shares of Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a report on Friday. Finally, Wall Street Zen downgraded shares of Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $348.70.

Cigna Group Price Performance

Shares of Cigna Group stock opened at $259.76 on Tuesday. 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 has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. The firm has a fifty day moving average price of $296.37 and a two-hundred day moving average price of $305.30. The company has a market cap of $69.34 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45.

Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $69.57 billion during the quarter, compared to the consensus estimate of $66.40 billion. During the same period in the prior year, the firm earned $7.51 EPS. The business’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts expect 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, December 18th. Shareholders of record on Thursday, December 4th will be issued a $1.51 dividend. 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 2.3%. Cigna Group’s dividend payout ratio is 26.64%.

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.