Forum Financial Management LP Buys 367 Shares of Cigna Group $CI

Forum Financial Management LP raised its stake in Cigna Group (NYSE:CI) by 8.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,919 shares of the health services provider’s stock after buying an additional 367 shares during the quarter. Forum Financial Management LP’s holdings in Cigna Group were worth $1,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its position in shares of Cigna Group by 17.8% during the second quarter. Rehmann Capital Advisory Group now owns 3,344 shares of the health services provider’s stock worth $1,106,000 after buying an additional 506 shares during the period. Cookson Peirce & Co. Inc. grew its holdings in Cigna Group by 74.3% during the second quarter. Cookson Peirce & Co. Inc. now owns 4,912 shares of the health services provider’s stock worth $1,624,000 after purchasing an additional 2,094 shares during the period. D.A. Davidson & CO. grew its holdings in Cigna Group by 5.9% during the second quarter. D.A. Davidson & CO. now owns 18,458 shares of the health services provider’s stock worth $6,102,000 after purchasing an additional 1,024 shares during the period. Whittier Trust Co. boosted its holdings in shares of Cigna Group by 2.3% during the second quarter. Whittier Trust Co. now owns 6,726 shares of the health services provider’s stock worth $2,223,000 after acquiring an additional 152 shares during the period. Finally, Drive Wealth Management LLC boosted its holdings in shares of Cigna Group by 14.7% during the second quarter. Drive Wealth Management LLC now owns 1,251 shares of the health services provider’s stock worth $413,000 after acquiring an additional 160 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cigna Group

In related news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction that occurred on Friday, October 3rd. The stock was 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 of the company’s stock, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the transaction, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CI. Truist Financial set a $375.00 price objective on Cigna Group in a report on Tuesday, September 2nd. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research report on Thursday, August 14th. Wells Fargo & Company upped their target price on Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Wall Street Zen downgraded Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Finally, Barclays raised their target price on Cigna Group from $354.00 to $383.00 and gave the company an “overweight” rating in a report on Thursday, September 4th. Two equities research 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $369.89.

Cigna Group Stock Up 0.3%

Shares of CI opened at $308.30 on Thursday. Cigna Group has a 52 week low of $256.89 and a 52 week high of $350.00. The stock has a market capitalization of $82.30 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.90 and a beta of 0.45. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a fifty day moving average of $298.83 and a 200-day moving average of $307.81.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. During the same period in the prior year, the company earned $6.72 EPS. 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. As a group, sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business 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 of this dividend is Thursday, December 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group’s payout ratio is presently 32.97%.

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.