Belpointe Asset Management LLC Decreases Stock Position in Cigna Group $CI

Belpointe Asset Management LLC cut its position in Cigna Group (NYSE:CI) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,745 shares of the health services provider’s stock after selling 187 shares during the quarter. Belpointe Asset Management LLC’s holdings in Cigna Group were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CI. Flaharty Asset Management LLC acquired a new stake in Cigna Group in the first quarter valued at $28,000. 1248 Management LLC acquired a new stake in Cigna Group in the first quarter valued at $29,000. Activest Wealth Management raised its holdings in Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. Retirement Wealth Solutions LLC raised its holdings in Cigna Group by 74.1% in the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock valued at $33,000 after acquiring an additional 43 shares in the last quarter. Finally, Saudi Central Bank acquired a new stake in Cigna Group in the first quarter valued at $36,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently 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. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $365.00 price target on shares of Cigna Group in a report on Tuesday, August 26th. Wall Street Zen cut shares of Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $372.69.

Cigna Group Stock Down 0.1%

CI stock opened at $306.39 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $358.88. The firm’s 50-day simple moving average is $293.90 and its 200 day simple moving average is $309.42. The stock has a market cap of $81.78 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.90 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 for the quarter, topping 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 business had revenue of $67.13 billion for the quarter, compared to analysts’ expectations of $62.61 billion. During the same quarter last year, the company earned $6.72 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

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

Insider Transactions at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the 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 completion of the transaction, the insider owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of the 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 of the company’s stock, valued at $15,354,600. This 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.

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.