Canandaigua National Trust Co of Florida Raises Stock Holdings in Cigna Group $CI

Canandaigua National Trust Co of Florida increased its holdings in shares of Cigna Group (NYSE:CI) by 5.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,125 shares of the health services provider’s stock after purchasing an additional 101 shares during the quarter. Canandaigua National Trust Co of Florida’s holdings in Cigna Group were worth $702,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CI. Flaharty Asset Management LLC purchased a new stake in shares of Cigna Group during the first quarter worth about $28,000. 1248 Management LLC purchased a new stake in shares of Cigna Group during the first quarter worth about $29,000. Activest Wealth Management grew its position in shares of Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares in the last quarter. Retirement Wealth Solutions LLC grew its position in shares of Cigna Group by 74.1% during the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after purchasing an additional 43 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new stake in shares of Cigna Group during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CI. Wells Fargo & Company cut their target price on Cigna Group from $341.00 to $340.00 and set an “equal weight” rating for the company in a research report on Thursday, August 14th. Royal Bank Of Canada reiterated an “outperform” rating and set a $371.00 target price on shares of Cigna Group in a research report on Thursday, June 26th. Guggenheim reiterated a “buy” rating and set a $350.00 target price (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. TD Cowen upgraded Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Finally, Barclays increased their target price 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 analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $374.76.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction on 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 directly owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Cigna Group Price Performance

Shares of CI stock opened at $302.71 on Monday. Cigna Group has a 52-week low of $256.89 and a 52-week high of $370.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $80.80 billion, a P/E ratio of 16.52, a P/E/G ratio of 0.89 and a beta of 0.48. The stock has a 50 day moving average price of $295.47 and a 200 day moving average price of $312.10.

Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same period last year, the company earned $6.72 EPS. Cigna Group’s quarterly revenue 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 earnings per share for the current year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.

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.