Prudential PLC Acquires 6,617 Shares of Cigna Group $CI

Prudential PLC raised its holdings in Cigna Group (NYSE:CI) by 63.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,116 shares of the health services provider’s stock after purchasing an additional 6,617 shares during the quarter. Prudential PLC’s holdings in Cigna Group were worth $5,658,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Financial Network Wealth Advisors LLC lifted its position in 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 in the last quarter. Central Pacific Bank Trust Division raised its stake in shares of Cigna Group by 1.0% in the second quarter. Central Pacific Bank Trust Division now owns 3,440 shares of the health services provider’s stock worth $1,137,000 after acquiring an additional 35 shares during the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Cigna Group by 3.1% during the second quarter. HBK Sorce Advisory LLC now owns 1,263 shares of the health services provider’s stock worth $418,000 after purchasing an additional 38 shares in the last quarter. Legacy Financial Advisors Inc. grew its stake in shares of Cigna Group by 2.9% during the first quarter. Legacy Financial Advisors Inc. now owns 1,400 shares of the health services provider’s stock valued at $461,000 after purchasing an additional 39 shares during the last quarter. Finally, Samalin Investment Counsel LLC grew its stake in shares of Cigna Group by 2.2% during the first quarter. Samalin Investment Counsel LLC now owns 1,792 shares of the health services provider’s stock valued at $590,000 after purchasing an additional 39 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CI. Leerink Partners lowered their target price on Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Zacks Research cut Cigna Group from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. TD Cowen lowered their price objective on Cigna Group from $387.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a research report on Thursday, August 14th. Finally, Wolfe Research reduced their target price on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. 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 issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $334.05.

Cigna Group Price Performance

CI opened at $278.12 on Friday. The stock has a market cap of $74.29 billion, a P/E ratio of 15.18, a P/E/G ratio of 0.88 and a beta of 0.44. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $286.74 and a 200 day simple moving average of $299.18.

Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. During the same period in the previous year, the firm earned $7.51 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

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 paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s dividend payout ratio is presently 26.64%.

Insider Buying and Selling

In related news, CEO David Cordani bought 4,134 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the acquisition, the chief executive officer owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This represents a 2.69% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian C. Evanko sold 5,368 shares of the company’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 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 SEC filing for this sale provides additional information. 0.70% of the stock is currently 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.