Whittier Trust Co. Boosts Stake in Cigna Group $CI

Whittier Trust Co. raised its position in Cigna Group (NYSE:CI) by 2.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,726 shares of the health services provider’s stock after purchasing an additional 152 shares during the period. Whittier Trust Co.’s holdings in Cigna Group were worth $2,223,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Modern Wealth Management LLC boosted its position in Cigna Group by 91.3% in the 1st quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock valued at $1,030,000 after buying an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Cigna Group by 3.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock valued at $11,882,000 after buying an additional 1,357 shares during the last quarter. Acadian Asset Management LLC boosted its position in Cigna Group by 277.5% in the 1st quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock valued at $2,718,000 after buying an additional 6,082 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Cigna Group in the 1st quarter valued at about $431,000. Finally, Pzena Investment Management LLC boosted its position in Cigna Group by 9.7% in the 2nd quarter. Pzena Investment Management LLC now owns 523,600 shares of the health services provider’s stock valued at $173,092,000 after buying an additional 46,140 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cigna Group 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 value of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction dated Friday, October 3rd. The stock was 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 approximately $15,354,600. This trade represents a 9.49% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Cigna Group Price Performance

CI opened at $308.30 on Thursday. The firm has a market cap of $82.30 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $350.00. The company’s 50-day moving average price is $298.83 and its 200 day moving average price is $307.81. 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 (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 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 firm had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the prior year, the business earned $6.72 earnings per share. Cigna Group’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. As a group, sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $1.51 dividend. The ex-dividend date is Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group’s dividend payout ratio is 32.97%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CI shares. The Goldman Sachs Group started coverage on shares of Cigna Group in a research note on Tuesday, October 14th. They issued a “buy” rating and a $370.00 target price on the stock. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a research note on Thursday, August 14th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. Wolfe Research cut their target price on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cigna Group has a consensus rating of “Moderate Buy” and a consensus price target of $369.89.

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.