Park Avenue Securities LLC Buys 4,976 Shares of Cigna Group $CI

Park Avenue Securities LLC raised its stake in Cigna Group (NYSE:CI) by 39.1% in the second quarter, Holdings Channel reports. The fund owned 17,694 shares of the health services provider’s stock after purchasing an additional 4,976 shares during the quarter. Park Avenue Securities LLC’s holdings in Cigna Group were worth $5,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Flaharty Asset Management LLC bought a new position in shares of Cigna Group in the first quarter worth about $28,000. 1248 Management LLC bought a new position in shares of Cigna Group in the first quarter worth about $29,000. Activest Wealth Management lifted its holdings in shares of 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 acquiring an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC lifted its holdings in shares of Cigna Group by 74.1% in the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after acquiring an additional 43 shares during the last quarter. Finally, Putney Financial Group LLC bought a new position in shares of Cigna Group in the fourth quarter worth about $36,000. Institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CI shares. Wells Fargo & Company dropped their price objective on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating for the company in a report on Thursday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a report on Thursday, August 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Finally, Wall Street Zen upgraded shares of Cigna Group from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $371.81.

Cigna Group Stock Down 0.5%

Cigna Group stock opened at $288.97 on Tuesday. The firm has a 50 day moving average price of $293.71 and a two-hundred day moving average price of $311.30. The firm has a market cap of $77.13 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.85 and a beta of 0.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. Cigna Group has a 52-week low of $256.89 and a 52-week high of $358.88.

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

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. Cigna Group’s payout ratio is currently 32.97%.

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares in the company, valued at $7,694,400. The trade was a 52.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.70% of the stock is 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.