Johnson Investment Counsel Inc. Sells 282 Shares of Cigna Group $CI

Johnson Investment Counsel Inc. reduced its position in shares of Cigna Group (NYSE:CI) by 5.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,009 shares of the health services provider’s stock after selling 282 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Cigna Group were worth $1,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. waypoint wealth counsel bought a new stake in Cigna Group during the 2nd quarter worth about $238,000. Sivik Global Healthcare LLC increased its stake in shares of Cigna Group by 32.0% in the 2nd quarter. Sivik Global Healthcare LLC now owns 16,500 shares of the health services provider’s stock valued at $5,455,000 after acquiring an additional 4,000 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of Cigna Group by 6.3% in the 2nd quarter. Apollon Wealth Management LLC now owns 9,538 shares of the health services provider’s stock valued at $3,153,000 after acquiring an additional 563 shares during the last quarter. Drucker Wealth 3.0 LLC bought a new stake in shares of Cigna Group in the 2nd quarter valued at about $201,000. Finally, Aberdeen Group plc increased its stake in shares of Cigna Group by 9.2% in the 2nd quarter. Aberdeen Group plc now owns 237,640 shares of the health services provider’s stock valued at $78,213,000 after acquiring an additional 19,998 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CI shares. Guggenheim reaffirmed a “buy” rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Truist Financial set a $375.00 price target on Cigna Group in a research note on Tuesday, September 2nd. Barclays upped their price target on Cigna Group from $354.00 to $383.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Wall Street Zen cut Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Finally, TD Cowen raised Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Cigna Group presently has an average rating of “Moderate Buy” and a consensus price target of $372.69.

Cigna Group Price Performance

NYSE CI opened at $295.60 on Tuesday. Cigna Group has a 52-week low of $256.89 and a 52-week high of $358.88. 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 business has a 50 day simple moving average of $295.25 and a 200 day simple moving average of $308.92. The stock has a market cap of $78.90 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.88 and a beta of 0.45.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter in the prior year, the firm posted $6.72 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. Cigna Group’s dividend payout ratio is 32.97%.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The stock was 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 owned 25,648 shares of the company’s stock, valued at $7,694,400. This represents a 52.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.

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.