Everett Harris & Co. CA Takes $201,000 Position in Cigna Group $CI

Everett Harris & Co. CA acquired a new position in shares of Cigna Group (NYSE:CI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 608 shares of the health services provider’s stock, valued at approximately $201,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Flaharty Asset Management LLC purchased a new stake in shares of Cigna Group during the 1st quarter worth approximately $28,000. 1248 Management LLC acquired a new position in Cigna Group during the first quarter worth $29,000. Solstein Capital LLC purchased a new stake in Cigna Group during the second quarter worth $29,000. Activest Wealth Management grew its holdings in Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new position in shares of Cigna Group in the second quarter valued at $30,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Stock Up 1.1%

Shares of NYSE CI opened at $270.99 on Thursday. Cigna Group has a 12-month low of $239.51 and a 12-month high of $350.00. The company has a market cap of $72.39 billion, a P/E ratio of 14.79, a P/E/G ratio of 0.88 and a beta of 0.44. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $291.12 and a 200 day moving average price of $302.06.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company had revenue of $69.57 billion for the quarter, compared to analysts’ expectations of $66.40 billion. During the same quarter in the previous year, the firm posted $7.51 earnings per share. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed 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 of this dividend is Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.2%. Cigna Group’s dividend payout ratio (DPR) is 26.64%.

Insider Activity

In other news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Cordani bought 4,134 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average price of $241.88 per share, with a total value of $999,931.92. Following the completion of the purchase, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CI shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cigna Group in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $310.00 price target on shares of Cigna Group in a report on Monday, November 3rd. Wolfe Research lowered their price target on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 15th. Morgan Stanley restated an “overweight” rating and set a $355.00 price objective on shares of Cigna Group in a research report on Friday, October 31st. Finally, TD Cowen reduced their target price on Cigna Group from $387.00 to $333.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. One 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 given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $334.05.

Cigna Group 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.