Magnetar Financial LLC Invests $724,000 in Cigna Group $CI

Magnetar Financial LLC purchased a new stake in shares of Cigna Group (NYSE:CI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,191 shares of the health services provider’s stock, valued at approximately $724,000.

A number of other institutional investors also recently bought and sold shares of CI. Flaharty Asset Management LLC bought a new stake in Cigna Group during the 1st quarter valued at approximately $28,000. 1248 Management LLC bought a new stake in shares of Cigna Group during the first quarter valued at approximately $29,000. Solstein Capital LLC bought a new stake in shares of Cigna Group during the second quarter valued at approximately $29,000. Activest Wealth Management raised 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 worth $30,000 after purchasing an additional 72 shares in the last quarter. Finally, Chilton Capital Management LLC purchased a new position in Cigna Group during the second quarter valued at $30,000. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Cigna Group

In related news, CEO David Cordani purchased 4,134 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average price of $241.88 per share, with a total value of $999,931.92. Following the acquisition, the chief executive officer directly owned 157,935 shares in the company, valued at $38,201,317.80. The trade was a 2.69% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction that occurred on Friday, October 3rd. The stock was 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 owned 51,182 shares of the company’s stock, valued at $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.70% of the company’s stock.

Cigna Group Trading Up 3.2%

NYSE:CI opened at $278.12 on Monday. The stock has a market cap of $74.29 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.88 and a beta of 0.44. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average price is $286.74 and its 200-day moving average price is $298.69. Cigna Group has a 52 week low of $239.51 and a 52 week high of $350.00.

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

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s dividend payout ratio is presently 26.64%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CI shares. Zacks Research downgraded shares of Cigna Group from a “hold” rating to a “strong sell” rating in a research report on Monday, November 3rd. UBS Group set a $294.00 price objective on shares of Cigna Group in a report on Wednesday, November 12th. Wolfe Research lowered their target price on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Cantor Fitzgerald dropped their price target on Cigna Group from $365.00 to $325.00 in a research report on Friday, October 31st. Finally, Wall Street Zen raised Cigna Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.