Nordea Investment Management AB Raises Stock Position in Cigna Group $CI

Nordea Investment Management AB increased its holdings in shares of Cigna Group (NYSE:CI) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,941,124 shares of the health services provider’s stock after purchasing an additional 22,076 shares during the period. Nordea Investment Management AB’s holdings in Cigna Group were worth $636,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CI. Valeo Financial Advisors LLC raised its holdings in shares of Cigna Group by 86,071.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after purchasing an additional 3,471,249 shares during the last quarter. Nuveen LLC purchased a new position in shares of Cigna Group during the first quarter worth $727,905,000. Price T Rowe Associates Inc. MD increased its holdings in Cigna Group by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after buying an additional 1,094,327 shares in the last quarter. GQG Partners LLC increased its holdings in Cigna Group by 21.5% in the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock valued at $1,607,716,000 after buying an additional 865,092 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Cigna Group by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider’s stock valued at $542,796,000 after buying an additional 457,052 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Stock Performance

CI opened at $290.97 on Friday. The firm has a market capitalization of $77.67 billion, a PE ratio of 15.88, a PEG ratio of 0.86 and a beta of 0.45. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.72. The firm’s 50-day moving average price is $296.78 and its 200 day moving average price is $308.51. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI) last posted 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. The firm had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued 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 payout ratio is presently 32.97%.

Analyst Ratings Changes

CI has been the subject of a number of recent analyst reports. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a report on Thursday, August 14th. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Wells Fargo & Company lifted their price objective on shares of Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cigna Group in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has a consensus rating of “Moderate Buy” and an average price target of $369.89.

Insider Activity

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the transaction, the insider directly owned 25,648 shares in the company, valued at $7,694,400. The trade was a 52.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction dated 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 in the company, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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.