Mattson Financial Services LLC Trims Stake in Cigna Group $CI

Mattson Financial Services LLC reduced its position in Cigna Group (NYSE:CI) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,871 shares of the health services provider’s stock after selling 82 shares during the quarter. Mattson Financial Services LLC’s holdings in Cigna Group were worth $949,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oxbow Advisors LLC raised its position in Cigna Group by 2.6% in the 2nd quarter. Oxbow Advisors LLC now owns 20,153 shares of the health services provider’s stock worth $6,662,000 after purchasing an additional 511 shares during the period. Nordea Investment Management AB raised its position in Cigna Group by 1.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,941,124 shares of the health services provider’s stock worth $636,029,000 after purchasing an additional 22,076 shares during the period. Evernest Financial Advisors LLC purchased a new stake in Cigna Group in the 2nd quarter worth about $216,000. Turtle Creek Wealth Advisors LLC raised its position in Cigna Group by 9.7% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 18,540 shares of the health services provider’s stock worth $6,129,000 after purchasing an additional 1,647 shares during the period. Finally, Bridges Investment Management Inc. grew its stake in Cigna Group by 7.6% in the 2nd quarter. Bridges Investment Management Inc. now owns 2,004 shares of the health services provider’s stock worth $662,000 after acquiring an additional 142 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CI. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Guggenheim restated a “buy” rating and issued a $350.00 target price (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Truist Financial set a $375.00 target price on shares of Cigna Group in a research note on Tuesday, September 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cigna Group in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $369.89.

Insider Activity at Cigna Group

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of the firm’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 completion of the sale, the insider directly owned 51,182 shares in the company, valued at $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 28,526 shares of the firm’s 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 completion of the sale, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

Cigna Group Price Performance

NYSE CI opened at $290.97 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 firm’s 50 day moving average price is $296.78 and its 200-day moving average price is $308.51. Cigna Group has a 52-week low of $256.89 and a 52-week high of $358.72. The company has a market cap of $77.67 billion, a PE ratio of 15.88, a P/E/G ratio of 0.86 and a beta of 0.45.

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

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, September 4th. Cigna Group’s dividend payout ratio (DPR) is 32.97%.

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.