Highland Capital Management LLC Sells 46 Shares of Cigna Group $CI

Highland Capital Management LLC decreased its holdings in Cigna Group (NYSE:CI) by 0.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,029 shares of the health services provider’s stock after selling 46 shares during the period. Highland Capital Management LLC’s holdings in Cigna Group were worth $5,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Modern Wealth Management LLC grew its holdings in Cigna Group by 91.3% in the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock worth $1,030,000 after purchasing an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Cigna Group by 3.9% in the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock worth $11,882,000 after purchasing an additional 1,357 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Cigna Group by 277.5% in the first quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock worth $2,718,000 after purchasing an additional 6,082 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Cigna Group in the first quarter worth $431,000. Finally, NBC Securities Inc. purchased a new position in Cigna Group in the first quarter worth $123,000. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the company’s stock in a transaction dated 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 sale, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial set a $375.00 price target on shares of Cigna Group in a report on Tuesday, September 2nd. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a report on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cigna Group in a report on Saturday, September 27th. Guggenheim reissued a “buy” rating and set a $350.00 price objective (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Finally, TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Cigna Group presently has a consensus rating of “Moderate Buy” and an average target price of $371.81.

Cigna Group Stock Up 4.8%

CI opened at $311.24 on Friday. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $292.41 and a 200 day moving average price of $309.73. The company has a market cap of $83.08 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.91 and a beta of 0.45.

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. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. During the same quarter in the prior year, the company earned $6.72 EPS. Cigna Group’s revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently disclosed 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 1.9%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group’s dividend payout ratio is currently 32.97%.

Cigna Group 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.