Sanders Morris Harris LLC Acquires New Position in Cigna Group $CI

Sanders Morris Harris LLC bought a new position in Cigna Group (NYSE:CI) in the third quarter, HoldingsChannel reports. The fund bought 3,493 shares of the health services provider’s stock, valued at approximately $1,007,000.

A number of other institutional investors also recently modified their holdings of the stock. Flaharty Asset Management LLC acquired a new position in shares of Cigna Group in the first quarter worth $28,000. 1248 Management LLC acquired a new stake in Cigna Group during the first quarter valued at $29,000. Solstein Capital LLC purchased a new position in Cigna Group in the second quarter valued at about $29,000. Activest Wealth Management increased its position in Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new position in Cigna Group in the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Trading Down 0.4%

NYSE:CI opened at $276.12 on Wednesday. The company’s 50 day moving average is $279.29 and its 200-day moving average is $293.37. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00. The firm has a market cap of $73.76 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 1.01 and a beta of 0.26.

Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.64 by $0.19. The business had revenue of $69.57 billion during the quarter, compared to the consensus estimate of $66.40 billion. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. Cigna Group’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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

Insider Activity

In related news, insider Brian C. Evanko sold 5,368 shares of the 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 in the company, valued at $15,354,600. This represents a 9.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO David Cordani purchased 4,134 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was acquired at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the completion of the transaction, the chief executive officer owned 157,935 shares in the company, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CI shares. Cantor Fitzgerald reduced their price target on Cigna Group from $365.00 to $325.00 in a report on Friday, October 31st. Barclays cut their price objective on shares of Cigna Group from $383.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Guggenheim reissued a “buy” rating and issued a $318.00 target price on shares of Cigna Group in a research report on Tuesday, December 2nd. Raymond James Financial restated a “strong-buy” rating on shares of Cigna Group in a research note on Monday, November 3rd. Finally, Sanford C. Bernstein reduced their price objective on shares of Cigna Group from $346.00 to $294.00 and set a “market perform” rating for the company in a research note on Wednesday, November 12th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $331.83.

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.