Wedge Capital Management L L P NC Purchases 3,763 Shares of Cigna Group $CI

Wedge Capital Management L L P NC lifted its position in Cigna Group (NYSE:CI) by 14.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,186 shares of the health services provider’s stock after purchasing an additional 3,763 shares during the period. Wedge Capital Management L L P NC’s holdings in Cigna Group were worth $8,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. Wilsey Asset Management Inc. grew its position in shares of Cigna Group by 2.9% during the second quarter. Wilsey Asset Management Inc. now owns 101,936 shares of the health services provider’s stock valued at $33,698,000 after purchasing an additional 2,847 shares in the last quarter. SCS Capital Management LLC boosted its stake in Cigna Group by 39.1% during the second quarter. SCS Capital Management LLC now owns 30,633 shares of the health services provider’s stock valued at $10,127,000 after buying an additional 8,609 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Cigna Group by 3.9% during the 2nd quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after buying an additional 6,155 shares in the last quarter. Modern Wealth Management LLC raised its holdings in shares of Cigna Group by 91.3% during the 1st quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock worth $1,030,000 after acquiring an additional 1,494 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Cigna Group by 3.9% during 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 acquiring an additional 1,357 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insider Transactions at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction on 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 sale, the insider directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani bought 4,134 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the completion of the transaction, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on CI. Morgan Stanley reaffirmed an “overweight” rating and set a $355.00 price target on shares of Cigna Group in a research note on Friday, October 31st. Cowen set a $333.00 price objective on shares of Cigna Group in a report on Monday, December 15th. JPMorgan Chase & Co. dropped their target price on shares of Cigna Group from $428.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Cigna Group from $415.00 to $301.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, Leerink Partners reduced their price objective on Cigna Group from $300.00 to $270.00 in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $331.83.

Cigna Group Stock Performance

Shares of NYSE:CI opened at $272.11 on Monday. The firm has a 50 day moving average of $277.41 and a 200 day moving average of $292.55. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $72.69 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 0.99 and a beta of 0.26. Cigna Group has a 52 week low of $239.51 and a 52 week high of $350.00.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, topping the consensus estimate of $7.64 by $0.19. The firm had revenue of $69.57 billion during the quarter, compared to analyst estimates of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Thursday, December 4th. Cigna Group’s dividend payout ratio is currently 26.64%.

Cigna Group Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.