Colrain Capital LLC Cuts Stake in Cigna Group $CI

Colrain Capital LLC lowered its stake in Cigna Group (NYSE:CI) by 10.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,900 shares of the health services provider’s stock after selling 1,250 shares during the period. Cigna Group comprises 2.8% of Colrain Capital LLC’s holdings, making the stock its 16th largest position. Colrain Capital LLC’s holdings in Cigna Group were worth $3,603,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CI. Brighton Jones LLC lifted its position in Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after purchasing an additional 318 shares during the last quarter. DAVENPORT & Co LLC lifted its position in Cigna Group by 11.3% in the first quarter. DAVENPORT & Co LLC now owns 5,774 shares of the health services provider’s stock valued at $1,896,000 after purchasing an additional 588 shares during the last quarter. Private Trust Co. NA lifted its position in Cigna Group by 3.6% in the first quarter. Private Trust Co. NA now owns 2,208 shares of the health services provider’s stock valued at $726,000 after purchasing an additional 76 shares during the last quarter. Mutual Advisors LLC lifted its position in Cigna Group by 7.2% in the first quarter. Mutual Advisors LLC now owns 5,441 shares of the health services provider’s stock valued at $1,825,000 after purchasing an additional 366 shares during the last quarter. Finally, Calamos Advisors LLC lifted its position in Cigna Group by 1.1% in the first quarter. Calamos Advisors LLC now owns 49,815 shares of the health services provider’s stock valued at $16,389,000 after purchasing an additional 555 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the sale, the insider directly owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction on Friday, August 15th. The stock was 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 directly owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley reiterated an “overweight” rating and issued a $355.00 price objective on shares of Cigna Group in a research report on Friday. The Goldman Sachs Group initiated coverage on Cigna Group in a report on Tuesday, October 14th. They set a “buy” rating and a $370.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Cigna Group in a report on Wednesday, October 8th. Wolfe Research decreased their target price on Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Finally, Guggenheim decreased their target price on Cigna Group from $350.00 to $309.00 in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Cigna Group currently has an average rating of “Moderate Buy” and an average price target of $350.74.

Cigna Group Price Performance

CI opened at $244.67 on Friday. The stock has a fifty day simple moving average of $297.19 and a two-hundred day simple moving average of $305.96. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a market cap of $65.31 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45. Cigna Group has a 12-month low of $240.67 and a 12-month high of $350.00.

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 analysts’ consensus estimates 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 return on equity of 18.80% and a net margin of 1.92%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.51 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $1.51 dividend. The ex-dividend date is Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.5%. Cigna Group’s dividend payout ratio is 32.97%.

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.