Russell Investments Group Ltd. Sells 54,583 Shares of Cigna Group $CI

by · The Cerbat Gem

Russell Investments Group Ltd. lowered its stake in Cigna Group (NYSE:CIFree Report) by 7.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 717,411 shares of the health services provider’s stock after selling 54,583 shares during the quarter. Russell Investments Group Ltd. owned about 0.27% of Cigna Group worth $237,064,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CI. Financial Network Wealth Advisors LLC raised its stake in Cigna Group by 26.8% during the 1st 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 during the period. Central Pacific Bank Trust Division increased its stake in shares of 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 purchasing an additional 35 shares in the last quarter. NDVR Inc. raised its position in shares of Cigna Group by 5.0% during the 2nd quarter. NDVR Inc. now owns 779 shares of the health services provider’s stock valued at $258,000 after purchasing an additional 37 shares during the period. HBK Sorce Advisory LLC lifted its stake in shares of Cigna Group by 3.1% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,263 shares of the health services provider’s stock valued at $418,000 after buying an additional 38 shares in the last quarter. Finally, Legacy Financial Advisors Inc. lifted its stake in shares of Cigna Group by 2.9% during the 1st quarter. Legacy Financial Advisors Inc. now owns 1,400 shares of the health services provider’s stock valued at $461,000 after buying an additional 39 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO David Cordani acquired 4,134 shares of Cigna Group stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of $241.88 per share, with a total value of $999,931.92. Following the completion of the purchase, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at $38,201,317.80. The trade was a 2.69% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the sale, the insider owned 51,182 shares in the company, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent analyst reports. Robert W. Baird set a $372.00 price target on Cigna Group in a report on Thursday, August 14th. TD Cowen cut their target price on Cigna Group from $387.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. Zacks Research cut Cigna Group from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. The Goldman Sachs Group cut their price objective on shares of Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $355.00 target price on shares of Cigna Group in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $334.05.

Read Our Latest Analysis on Cigna Group

Cigna Group Stock Performance

NYSE:CI opened at $278.19 on Wednesday. The company has a market cap of $74.31 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.88 and a beta of 0.44. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The stock’s 50 day simple moving average is $285.92 and its two-hundred day simple moving average is $297.87. 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:CIGet Free Report) last posted its earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.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 company earned $7.51 EPS. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $1.51 dividend. The ex-dividend date is Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group’s payout ratio is 26.64%.

Cigna Group Company Profile

(Free Report)

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.

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