Concord Asset Management LLC VA Boosts Position in Cigna Group $CI

Concord Asset Management LLC VA grew its stake in shares of Cigna Group (NYSE:CI) by 27.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,107 shares of the health services provider’s stock after purchasing an additional 456 shares during the quarter. Concord Asset Management LLC VA’s holdings in Cigna Group were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Flaharty Asset Management LLC purchased a new position in shares of Cigna Group in the 1st quarter valued at $28,000. 1248 Management LLC acquired a new stake in Cigna Group during the 1st quarter worth $29,000. Activest Wealth Management boosted its stake in Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the period. Retirement Wealth Solutions LLC raised its holdings in shares of 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 buying an additional 43 shares during the last quarter. Finally, Saudi Central Bank purchased a new stake in shares of Cigna Group in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Trading Down 1.7%

NYSE:CI opened at $295.60 on Tuesday. The stock has a fifty day moving average price of $295.25 and a two-hundred day moving average price of $308.92. The stock has a market capitalization of $78.90 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.88 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. Cigna Group has a 1 year low of $256.89 and a 1 year high of $358.88.

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 business had revenue of $67.13 billion for the quarter, compared to analysts’ expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the company posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share 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. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group’s dividend payout ratio is 32.97%.

Insider Activity

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of Cigna Group 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 approximately $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction dated 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 transaction, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. 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 research report on Tuesday, October 7th. Truist Financial set a $375.00 price objective on shares of Cigna Group in a research report on Tuesday, September 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cigna Group in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $372.69.

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.