D.A. Davidson & CO. Raises Stock Position in Cigna Group $CI

D.A. Davidson & CO. increased its stake in Cigna Group (NYSE:CI) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,458 shares of the health services provider’s stock after purchasing an additional 1,024 shares during the quarter. D.A. Davidson & CO.’s holdings in Cigna Group were worth $6,102,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CI. Flaharty Asset Management LLC purchased a new stake in Cigna Group in the first quarter worth approximately $28,000. 1248 Management LLC bought a new position in Cigna Group in the first quarter worth approximately $29,000. Activest Wealth Management raised its position in Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after acquiring an additional 72 shares during the period. Princeton Global Asset Management LLC raised its position in Cigna Group by 115.6% in the second quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock worth $32,000 after acquiring an additional 52 shares during the period. Finally, Retirement Wealth Solutions LLC raised its position in Cigna Group by 74.1% in the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CI shares. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cigna Group in a research report on Wednesday, October 8th. Wells Fargo & Company increased their price target on shares of Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 7th. Guggenheim reiterated a “buy” rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $371.00 price objective on shares of Cigna Group in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $369.89.

Insider Buying and Selling at Cigna Group

In related news, insider Brian C. Evanko sold 5,368 shares of the firm’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 completion of the transaction, the insider directly owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the transaction, the insider directly 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 disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Cigna Group Stock Performance

Shares of NYSE CI opened at $305.08 on Friday. The firm has a fifty day moving average price of $299.12 and a 200-day moving average price of $307.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market cap of $81.43 billion, a PE ratio of 16.65, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. Cigna Group has a 1 year low of $256.89 and a 1 year high of $350.00.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. The firm had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 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 11.0% compared to the same quarter last year. During the same period in the prior year, the company posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

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 paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s dividend payout ratio (DPR) is presently 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.