DAVENPORT & Co LLC Boosts Stake in Cigna Group $CI

DAVENPORT & Co LLC lifted its stake in Cigna Group (NYSE:CI) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,924 shares of the health services provider’s stock after purchasing an additional 150 shares during the period. DAVENPORT & Co LLC’s holdings in Cigna Group were worth $1,954,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after buying an additional 318 shares during the period. Farther Finance Advisors LLC boosted its holdings in Cigna Group by 93.3% in the 1st quarter. Farther Finance Advisors LLC now owns 3,505 shares of the health services provider’s stock worth $1,160,000 after buying an additional 1,692 shares during the period. GAMMA Investing LLC boosted its holdings in Cigna Group by 79.0% in the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock worth $1,775,000 after buying an additional 2,381 shares during the period. Simplicity Wealth LLC boosted its holdings in Cigna Group by 6.4% in the 1st quarter. Simplicity Wealth LLC now owns 802 shares of the health services provider’s stock worth $264,000 after buying an additional 48 shares during the period. Finally, Parsons Capital Management Inc. RI boosted its holdings in Cigna Group by 19.8% in the 1st quarter. Parsons Capital Management Inc. RI now owns 980 shares of the health services provider’s stock worth $322,000 after buying an additional 162 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Cigna Group Stock Down 0.1%

Shares of NYSE:CI opened at $306.39 on Friday. 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 has a 12 month low of $256.89 and a 12 month high of $358.88. The company has a 50-day moving average price of $293.90 and a 200 day moving average price of $309.42. The company has a market cap of $81.78 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.90 and a beta of 0.45.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 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 during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter last year, the firm earned $6.72 EPS. The firm’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, equities research analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors 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 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.

Insider Transactions at Cigna Group

In related news, 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $8,557,800.00. Following the completion of the transaction, the insider directly 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 currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a report on Monday, June 23rd. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a report on Thursday, August 14th. Wells Fargo & Company upped their target price on shares of Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a report on Tuesday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Finally, Barclays raised their price objective on Cigna Group from $354.00 to $383.00 and gave the company an “overweight” rating in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.