Summit X LLC Purchases 1,655 Shares of Cigna Group $CI

Summit X LLC increased its position in Cigna Group (NYSE:CI) by 77.5% during the second quarter, Holdings Channel reports. The firm owned 3,791 shares of the health services provider’s stock after buying an additional 1,655 shares during the quarter. Summit X LLC’s holdings in Cigna Group were worth $1,253,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Systems of Alabama increased 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 worth $54,707,000 after purchasing an additional 6,155 shares during the period. Modern Wealth Management LLC raised its holdings 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 valued at $1,030,000 after acquiring an additional 1,494 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of 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 increased its position in shares of Cigna Group by 277.5% in the first quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider’s stock worth $2,718,000 after purchasing an additional 6,082 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Cigna Group in the first quarter valued at about $431,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CI shares. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a report on Thursday, August 14th. Cantor Fitzgerald dropped their target price on shares of Cigna Group from $365.00 to $325.00 in a report on Friday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Cigna Group from $415.00 to $301.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Barclays dropped their price objective on shares of Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Finally, Wells Fargo & Company decreased their target price on shares of Cigna Group from $354.00 to $300.00 and set an “equal weight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $339.73.

Cigna Group Price Performance

Shares of CI opened at $264.54 on Friday. The business has a 50-day moving average of $293.24 and a 200-day moving average of $303.54. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The company has a market capitalization of $70.66 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

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

Cigna Group Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Thursday, December 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.3%. Cigna Group’s dividend payout ratio is presently 26.64%.

Insiders Place Their Bets

In related news, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction 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 owned 51,182 shares in the company, valued at $15,354,600. The trade was a 9.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares of the company’s stock, valued at $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.70% of the stock is currently owned by corporate insiders.

Cigna Group 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.