Janney Montgomery Scott LLC Boosts Holdings in Cigna Group $CI

Janney Montgomery Scott LLC grew its position in Cigna Group (NYSE:CI) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,943 shares of the health services provider’s stock after buying an additional 1,357 shares during the period. Janney Montgomery Scott LLC’s holdings in Cigna Group were worth $11,882,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CI. Price T Rowe Associates Inc. MD boosted its position in shares of Cigna Group by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock worth $3,966,690,000 after purchasing an additional 1,094,327 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Cigna Group by 0.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider’s stock worth $3,834,493,000 after purchasing an additional 98,715 shares during the period. Dodge & Cox boosted its position in shares of Cigna Group by 1.3% during the 1st quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider’s stock worth $2,924,722,000 after purchasing an additional 117,125 shares during the period. GQG Partners LLC boosted its position in shares of Cigna Group by 21.5% during the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock worth $1,607,716,000 after purchasing an additional 865,092 shares during the period. Finally, Parnassus Investments LLC boosted its position in shares of Cigna Group by 3.1% during the 1st quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider’s stock worth $949,357,000 after purchasing an additional 86,602 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Cigna Group Price Performance

Cigna Group stock opened at $311.24 on Friday. The firm has a market cap of $83.08 billion, a PE ratio of 16.99, a price-to-earnings-growth ratio of 0.87 and a beta of 0.45. Cigna Group has a 52-week low of $256.89 and a 52-week high of $358.88. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average is $292.41 and its two-hundred day moving average is $309.81.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same period in the prior year, the business earned $6.72 EPS. The firm’s quarterly revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, September 4th. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.

Wall Street Analyst Weigh In

CI has been the subject of a number of research analyst reports. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Wells Fargo & Company lowered their price objective on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating for the company in a research report on Thursday, August 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cigna Group in a research report on Saturday, September 27th. Guggenheim reaffirmed a “buy” rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Truist Financial set a $375.00 price objective on shares of Cigna Group in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $371.81.

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.70% of the company’s stock.

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.