Pinnacle Wealth Planning Services Inc. Increases Stake in Cigna Group $CI

Pinnacle Wealth Planning Services Inc. raised its position in shares of Cigna Group (NYSE:CI) by 48.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,376 shares of the health services provider’s stock after purchasing an additional 448 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Cigna Group were worth $455,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Retirement Systems of Alabama lifted its holdings in shares of Cigna Group by 3.9% during the second quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after purchasing an additional 6,155 shares in the last quarter. Modern Wealth Management LLC raised its position in Cigna Group by 91.3% in the 1st quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock worth $1,030,000 after buying an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in 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 period. Acadian Asset Management LLC boosted its holdings in shares of Cigna Group by 277.5% during the 1st quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock valued at $2,718,000 after acquiring an additional 6,082 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Cigna Group in the first quarter worth approximately $431,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity at Cigna Group

In other news, CEO David Cordani bought 4,134 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were bought at an average price of $241.88 per share, for a total transaction of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares in the company, valued at approximately $38,201,317.80. The trade was a 2.69% increase in their ownership of the stock. The purchase 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 shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares in the company, valued at $15,354,600. This represents a 9.49% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.70% of the company’s stock.

Cigna Group Trading Up 0.4%

Shares of CI stock opened at $272.50 on Wednesday. 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 company has a market cap of $72.79 billion, a price-to-earnings ratio of 14.87, a PEG ratio of 0.88 and a beta of 0.44. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The firm has a fifty day moving average price of $288.56 and a 200-day moving average price of $299.97.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $66.40 billion. During the same period in the previous year, the business earned $7.51 earnings per share. Cigna Group’s quarterly revenue was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on CI. Sanford C. Bernstein lowered their price objective on shares of Cigna Group from $346.00 to $294.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 12th. Raymond James Financial reiterated a “strong-buy” rating on shares of Cigna Group in a research note on Monday, November 3rd. Robert W. Baird set a $372.00 price target on Cigna Group in a research note on Thursday, August 14th. TD Cowen cut their price objective on Cigna Group from $387.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group reduced their price objective on Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $334.05.

Cigna Group Company 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.