OFI Invest Asset Management Purchases 58 Shares of Cigna Group $CI

OFI Invest Asset Management raised its position in shares of Cigna Group (NYSE:CI) by 22.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 314 shares of the health services provider’s stock after acquiring an additional 58 shares during the period. OFI Invest Asset Management’s holdings in Cigna Group were worth $104,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC raised its position in shares of Cigna Group by 17.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 45,805 shares of the health services provider’s stock valued at $15,159,000 after buying an additional 6,672 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Cigna Group by 1.6% in the second quarter. Concurrent Investment Advisors LLC now owns 5,068 shares of the health services provider’s stock valued at $1,675,000 after buying an additional 81 shares in the last quarter. waypoint wealth counsel acquired a new stake in shares of Cigna Group in the second quarter valued at approximately $238,000. Sivik Global Healthcare LLC raised its position in shares of Cigna Group by 32.0% in the second quarter. Sivik Global Healthcare LLC now owns 16,500 shares of the health services provider’s stock valued at $5,455,000 after buying an additional 4,000 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its position in shares of Cigna Group by 6.3% in the second quarter. Apollon Wealth Management LLC now owns 9,538 shares of the health services provider’s stock valued at $3,153,000 after buying an additional 563 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CI. Cantor Fitzgerald reiterated an “overweight” rating and issued a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Wells Fargo & Company lifted their price target on shares of Cigna Group from $340.00 to $354.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Wall Street Zen downgraded shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Barclays boosted their price objective on shares of 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, fourteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Cigna Group has an average rating of “Moderate Buy” and a consensus target price of $372.69.

Cigna Group Stock Down 1.7%

Shares of CI opened at $301.00 on Monday. Cigna Group has a one year low of $256.89 and a one year high of $358.88. The company has a market cap of $80.35 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.88 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $294.68 and a two-hundred day simple moving average of $309.12.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same period in the previous year, the business earned $6.72 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $1.51 per share. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio is 32.97%.

Insider Buying and Selling at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of the company’s 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 transaction, the insider directly owned 51,182 shares in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicole S. Jones sold 28,526 shares of the company’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 owned 25,648 shares of the company’s stock, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

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.