IFP Advisors Inc Has $3.34 Million Position in Cigna Group $CI

IFP Advisors Inc raised its stake in Cigna Group (NYSE:CI) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,066 shares of the health services provider’s stock after purchasing an additional 181 shares during the period. IFP Advisors Inc’s holdings in Cigna Group were worth $3,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Modern Wealth Management LLC increased its holdings in shares of Cigna Group by 91.3% in the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock valued at $1,030,000 after purchasing an additional 1,494 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Cigna Group by 3.9% in the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock valued at $11,882,000 after purchasing an additional 1,357 shares during the last quarter. Acadian Asset Management LLC boosted 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 valued at $2,718,000 after acquiring an additional 6,082 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cigna Group in the first quarter valued at about $431,000. Finally, Integrity Alliance LLC. acquired a new position in shares of Cigna Group in the first quarter valued at about $617,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Guggenheim restated a “buy” rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $365.00 price target on shares of Cigna Group in a research note on Tuesday, August 26th. TD Cowen upgraded shares of Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $372.69.

Insider Transactions at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the transaction, the insider 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated 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 transaction, the insider directly owned 25,648 shares of the company’s stock, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Cigna Group Trading Down 1.7%

CI opened at $301.00 on Friday. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The company has a 50-day simple moving average of $294.68 and a 200 day simple moving average of $309.31. 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 stock has a market capitalization of $80.35 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.90 and a beta of 0.45.

Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. During the same quarter in the prior year, the business posted $6.72 earnings per share. Cigna Group’s revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 2.0%. 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.