Prosperity Consulting Group LLC Boosts Holdings in Cigna Group $CI

Prosperity Consulting Group LLC lifted its stake in Cigna Group (NYSE:CI) by 118.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,456 shares of the health services provider’s stock after buying an additional 790 shares during the period. Prosperity Consulting Group LLC’s holdings in Cigna Group were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Retirement Systems of Alabama grew its stake in shares of Cigna Group by 3.9% during the 2nd quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after buying an additional 6,155 shares during the period. Modern Wealth Management LLC grew its stake in shares of Cigna Group by 91.3% during the 1st quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider’s stock valued at $1,030,000 after buying an additional 1,494 shares during the period. Janney Montgomery Scott LLC grew its position in Cigna Group by 3.9% during 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 acquiring an additional 1,357 shares during the period. Acadian Asset Management LLC grew its position in Cigna Group by 277.5% during 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. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Cigna Group during the first quarter valued at about $431,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Price Performance

Shares of CI stock opened at $259.50 on Thursday. The company has a market capitalization of $69.32 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 0.88 and a beta of 0.44. The firm has a fifty day simple moving average of $294.83 and a 200-day simple moving average of $304.52. 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 twelve month low of $239.51 and a twelve month high of $350.00.

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

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a $1.51 dividend. 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 2.3%. Cigna Group’s dividend payout ratio is currently 26.64%.

Insider Activity

In related news, CEO David Cordani acquired 4,134 shares of Cigna Group 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 purchase, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of the 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 transaction, the insider owned 51,182 shares in the company, valued at $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Cowen reiterated a “buy” rating on shares of Cigna Group in a report on Tuesday. Wall Street Zen downgraded shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research note on Thursday, August 14th. Truist Financial decreased their price objective on shares of Cigna Group from $375.00 to $310.00 in a research note on Friday, October 31st. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $310.00 price target on shares of Cigna Group in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $344.91.

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.