Westpac Banking Corp Increases Holdings in Cigna Group $CI

Westpac Banking Corp boosted its stake in Cigna Group (NYSE:CI) by 40.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,857 shares of the health services provider’s stock after acquiring an additional 1,117 shares during the period. Westpac Banking Corp’s holdings in Cigna Group were worth $1,275,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Flaharty Asset Management LLC bought a new stake in shares of Cigna Group in the first quarter valued at $28,000. 1248 Management LLC bought a new stake in Cigna Group in the 1st quarter valued at about $29,000. Solstein Capital LLC purchased a new stake in Cigna Group during the second quarter valued at about $29,000. Activest Wealth Management boosted its position in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the period. Finally, Chilton Capital Management LLC purchased a new position in shares of Cigna Group in the second quarter worth about $30,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Trading Up 1.0%

Cigna Group stock traded up $2.62 during mid-day trading on Monday, reaching $272.28. 67,542 shares of the company traded hands, compared to its average volume of 1,856,936. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 52-week low of $239.51 and a 52-week high of $350.00. The firm has a market capitalization of $72.73 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 0.88 and a beta of 0.44. The firm’s 50 day moving average price is $289.75 and its 200 day moving average price is $300.86.

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

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders 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 dividend yield of 2.2%. Cigna Group’s dividend payout ratio (DPR) is presently 26.64%.

Insider Buying and Selling at Cigna Group

In other news, CEO David Cordani acquired 4,134 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average price of $241.88 per share, with a total value of $999,931.92. Following the completion of the acquisition, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. The trade was a 2.69% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the firm’s 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 completion of the transaction, the insider directly owned 51,182 shares in the company, valued at approximately $15,354,600. The trade was a 9.49% decrease in their position. The SEC filing for this sale provides additional information. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CI. Raymond James Financial reiterated a “strong-buy” rating on shares of Cigna Group in a research note on Monday, November 3rd. Cantor Fitzgerald reduced their price target on shares of Cigna Group from $365.00 to $325.00 in a research report on Friday, October 31st. Guggenheim decreased their price objective on shares of Cigna Group from $350.00 to $309.00 in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Cigna Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Truist Financial cut their price target on shares of Cigna Group from $375.00 to $310.00 in a research note on Friday, October 31st. One investment 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 company’s stock. According to data from MarketBeat.com, Cigna Group presently has a consensus rating of “Moderate Buy” and an average price target of $334.05.

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.