VIRGINIA RETIREMENT SYSTEMS ET Al Invests $58.41 Million in Cigna Group $CI

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Cigna Group (NYSE:CI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 176,700 shares of the health services provider’s stock, valued at approximately $58,413,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.07% of Cigna Group at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CI. Family Legacy Inc. raised its position in shares of Cigna Group by 0.5% during the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider’s stock worth $2,138,000 after acquiring an additional 31 shares in the last quarter. Impact Investors Inc increased its stake in Cigna Group by 1.6% in the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider’s stock valued at $650,000 after purchasing an additional 31 shares during the last quarter. Westend Capital Management LLC raised its holdings in Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider’s stock worth $140,000 after purchasing an additional 32 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its position in shares of Cigna Group by 26.8% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 161 shares of the health services provider’s stock worth $53,000 after buying an additional 34 shares during the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Cigna Group by 1.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 3,440 shares of the health services provider’s stock valued at $1,137,000 after buying an additional 35 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the transaction, the insider directly owned 25,648 shares of the company’s stock, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction dated 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 sale, the insider owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. The trade was a 9.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CI. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Guggenheim reiterated a “buy” rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. Wells Fargo & Company raised their price target on Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cigna Group in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $369.89.

Cigna Group Stock Up 3.0%

Cigna Group stock opened at $299.81 on Friday. The stock has a 50 day moving average of $297.27 and a two-hundred day moving average of $308.13. Cigna Group has a twelve month low of $256.89 and a twelve month high of $353.55. The stock has a market capitalization of $80.03 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 0.88 and a beta of 0.45. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

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

Cigna Group Announces Dividend

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

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.