Cigna Group $CI Position Increased by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC raised its holdings in shares of Cigna Group (NYSE:CI) by 198.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,618 shares of the health services provider’s stock after buying an additional 3,069 shares during the period. Provenance Wealth Advisors LLC’s holdings in Cigna Group were worth $1,255,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CI. Osbon Capital Management LLC bought a new position in shares of Cigna Group in the second quarter valued at $26,000. Putney Financial Group LLC bought a new stake in shares of Cigna Group during the 3rd quarter worth $27,000. Cedar Mountain Advisors LLC boosted its stake in shares of Cigna Group by 161.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock worth $29,000 after acquiring an additional 68 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Cigna Group during the 2nd quarter worth $29,000. Finally, Fiduciary Financial Advisors acquired a new position in shares of Cigna Group in the 2nd quarter worth $29,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Performance

Shares of NYSE CI opened at $306.01 on Thursday. The business’s 50-day moving average price is $285.07 and its two-hundred day moving average price is $281.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76. Cigna Group has a one year low of $255.53 and a one year high of $316.27. The company has a market capitalization of $80.86 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 1.00 and a beta of 0.25.

Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be paid a dividend of $1.56 per share. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio (DPR) is 25.82%.

Wall Street Analyst Weigh In

CI has been the topic of a number of recent analyst reports. Robert W. Baird set a $362.00 target price on Cigna Group in a research report on Friday, July 31st. Jefferies Financial Group downgraded Cigna Group from a “buy” rating to a “hold” rating and reduced their target price for the company from $336.00 to $307.00 in a report on Tuesday, August 4th. Piper Sandler reiterated an “overweight” rating on shares of Cigna Group in a research report on Friday, October 23rd. Sanford C. Bernstein reissued an “outperform” rating on shares of Cigna Group in a research note on Friday, October 2nd. Finally, Guggenheim lifted their price target on Cigna Group from $338.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Fourteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Cigna Group has an average rating of “Moderate Buy” and a consensus price target of $336.40.

Insider Activity

In related news, insider Everett Neville sold 617 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total value of $175,258.85. Following the transaction, the insider owned 5,053 shares in the company, valued at approximately $1,435,304.65. This represents a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole S. Jones sold 2,677 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider directly owned 25,880 shares in the company, valued at approximately $7,236,306.80. The trade was a 9.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

Trending Headlines about Cigna Group

Here are the key news stories impacting Cigna Group this week:

• Positive Sentiment: Cigna rose alongside Elevance Health as CVS fell sharply following its proposed breakup plan. The relative strength may indicate investors favored Cigna and other peers amid the sector reaction, though the reports do not identify a direct benefit to Cigna from CVS’s plan. CVS Tumbles 12% on Plan to Split Into Two Companies Despite Earnings Beat; Elevance Health Rises 4%, Cigna Climbs 3%
• Neutral Sentiment: Cigna’s gains since its Investor Day have put the focus on whether Thursday’s earnings report can sustain momentum. Analysts expect adjusted third-quarter EPS of $7.52, versus $7.83 a year earlier. Cigna Stock Has Gained Since Investor Day. Earnings Are Next.
• Negative Sentiment: Expectations for slower earnings growth pose a risk: pharmacy and premium growth may lift revenue, but lower Evernorth profits and higher medical costs could weigh on results. Investors will watch whether those headwinds are reflected in Cigna’s outlook. Can Pharmacy Growth Offset Evernorth’s Profit Decline in Cigna’s Q3?

Cigna Group Company Profile

The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.