Persistent Asset Partners Ltd Buys Shares of 3,618 Cigna Group $CI

Persistent Asset Partners Ltd purchased a new position in Cigna Group (NYSE:CI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,618 shares of the health services provider’s stock, valued at approximately $1,196,000.

Other institutional investors have also made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in Cigna Group by 86,071.1% in the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock valued at $1,148,859,000 after buying an additional 3,471,249 shares during the period. Nuveen LLC acquired a new position in shares of Cigna Group during the 1st quarter worth about $727,905,000. Price T Rowe Associates Inc. MD increased its stake in shares of Cigna Group by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after acquiring an additional 1,094,327 shares during the last quarter. GQG Partners LLC increased its stake in shares of Cigna Group by 21.5% in the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock valued at $1,607,716,000 after acquiring an additional 865,092 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Cigna Group by 38.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider’s stock valued at $542,796,000 after acquiring an additional 457,052 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Trading Down 0.5%

CI opened at $269.52 on Friday. The stock has a market capitalization of $72.00 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.88 and a beta of 0.44. 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 has a 12 month low of $239.51 and a 12 month high of $350.00. The firm’s fifty day simple moving average is $289.75 and its 200 day simple moving average is $301.13.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.64 by $0.19. The firm had revenue of $69.57 billion for 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 company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

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

Insider Activity at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 51,182 shares of the company’s stock, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Cordani acquired 4,134 shares of the stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $241.88 per share, for a total transaction of $999,931.92. Following the completion of the acquisition, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at $38,201,317.80. The trade was 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 owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on CI shares. Truist Financial decreased their price objective on shares of Cigna Group from $375.00 to $310.00 in a report on Friday, October 31st. Leerink Partners decreased their price target on shares of Cigna Group from $300.00 to $270.00 in a report on Friday, October 31st. Wells Fargo & Company lowered their price objective on shares of Cigna Group from $354.00 to $300.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a report on Thursday. Finally, Barclays decreased their target price on Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned 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 presently has a consensus rating of “Moderate Buy” and an average price target of $334.05.

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.