Police & Firemen s Retirement System of New Jersey Acquires 1,561 Shares of Cigna Group $CI

Police & Firemen s Retirement System of New Jersey lifted its stake in Cigna Group (NYSE:CI) by 4.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 40,636 shares of the health services provider’s stock after acquiring an additional 1,561 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Cigna Group were worth $13,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of CI. Bailard Inc. grew its holdings in Cigna Group by 1.4% during the second quarter. Bailard Inc. now owns 5,464 shares of the health services provider’s stock valued at $1,806,000 after purchasing an additional 78 shares during the period. Everett Harris & Co. CA purchased a new position in shares of Cigna Group during the 2nd quarter valued at about $201,000. denkapparat Operations GmbH purchased a new position in shares of Cigna Group during the 2nd quarter valued at about $638,000. SBI Securities Co. Ltd. grew its stake in shares of Cigna Group by 15.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 458 shares of the health services provider’s stock valued at $151,000 after acquiring an additional 60 shares during the period. Finally, IMA Advisory Services Inc. grew its stake in shares of Cigna Group by 7.1% during the 2nd quarter. IMA Advisory Services Inc. now owns 8,171 shares of the health services provider’s stock valued at $2,701,000 after acquiring an additional 543 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO David Cordani acquired 4,134 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average cost of $241.88 per share, with a total value of $999,931.92. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is currently owned by corporate insiders.

Cigna Group Price Performance

Shares of NYSE:CI opened at $270.54 on Friday. The firm has a market cap of $72.27 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 0.88 and a beta of 0.44. The firm has a fifty day moving average price of $290.47 and a 200 day moving average price of $301.84. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71.

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

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Thursday, December 4th. Cigna Group’s payout ratio is currently 26.64%.

Analyst Ratings Changes

A number of equities research analysts have commented on CI shares. Wall Street Zen upgraded shares of Cigna Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research reduced their price objective on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. Guggenheim lowered their target price on shares of Cigna Group from $350.00 to $309.00 in a research note on Friday, October 31st. Cowen reaffirmed a “buy” rating on shares of Cigna Group in a report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. decreased their price target on Cigna Group from $428.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Cigna Group has an average rating of “Moderate Buy” and an average target price of $334.05.

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.