Thrivent Financial for Lutherans Purchases 2,077 Shares of Cigna Group $CI

Thrivent Financial for Lutherans raised its position in Cigna Group (NYSE:CI) by 0.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 268,933 shares of the health services provider’s stock after acquiring an additional 2,077 shares during the period. Thrivent Financial for Lutherans’ holdings in Cigna Group were worth $88,904,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Flaharty Asset Management LLC bought a new stake in Cigna Group during the 1st quarter worth about $28,000. 1248 Management LLC bought a new stake in Cigna Group during the first quarter worth about $29,000. Solstein Capital LLC bought a new stake in Cigna Group during the second quarter worth about $29,000. Chilton Capital Management LLC acquired a new position in Cigna Group during the second quarter valued at approximately $30,000. Finally, Activest Wealth Management increased its position in shares of Cigna Group by 360.0% during the 1st 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 last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Stock Up 0.9%

Shares of CI opened at $274.70 on Friday. The firm has a 50 day simple moving average of $280.44 and a two-hundred day simple moving average of $294.02. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. Cigna Group has a one year low of $239.51 and a one year high of $350.00. The company has a market cap of $73.38 billion, a P/E ratio of 12.12, a P/E/G ratio of 1.00 and a beta of 0.26.

Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The company had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. During the same quarter last year, the company posted $7.51 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts forecast that Cigna Group will post 29.77 EPS 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. Stockholders 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 is 26.64%.

Insider Buying and Selling

In related news, CEO David Cordani purchased 4,134 shares of Cigna Group stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares in the company, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the company’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 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 SEC filing for this sale provides additional information. Company insiders own 0.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on CI. Morgan Stanley reissued an “overweight” rating and issued a $355.00 target price on shares of Cigna Group in a research note on Friday, October 31st. 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. Weiss Ratings restated a “hold (c)” rating on shares of Cigna Group in a research note on Monday, December 8th. Wells Fargo & Company reduced their price target on Cigna Group from $354.00 to $300.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Wolfe Research dropped their price objective on Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.77.

Cigna Group 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.