Atlantic Union Bankshares Corp Makes New Investment in Cigna Group $CI

Atlantic Union Bankshares Corp purchased a new position in shares of Cigna Group (NYSE:CI) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,433 shares of the health services provider’s stock, valued at approximately $3,118,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after acquiring an additional 318 shares during the period. Linden Thomas Advisory Services LLC raised its stake in Cigna Group by 9.8% in the first quarter. Linden Thomas Advisory Services LLC now owns 2,416 shares of the health services provider’s stock valued at $795,000 after purchasing an additional 215 shares in the last quarter. Quotient Wealth Partners LLC increased its stake in Cigna Group by 17.6% in the first quarter. Quotient Wealth Partners LLC now owns 868 shares of the health services provider’s stock valued at $286,000 after acquiring an additional 130 shares during the last quarter. Leavell Investment Management Inc. lifted its position in shares of Cigna Group by 5.3% during the 1st quarter. Leavell Investment Management Inc. now owns 919 shares of the health services provider’s stock worth $302,000 after buying an additional 46 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Cigna Group by 4.1% during the 1st quarter. Allworth Financial LP now owns 6,344 shares of the health services provider’s stock valued at $2,130,000 after purchasing an additional 247 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cigna Group news, CEO David Cordani bought 4,134 shares of the stock in a transaction dated Monday, November 3rd. The stock was purchased at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the completion of the acquisition, the chief executive officer owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% 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.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays reduced their price target on Cigna Group from $383.00 to $300.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Truist Financial dropped their price objective on shares of Cigna Group from $375.00 to $310.00 in a report on Friday, October 31st. Robert W. Baird set a $372.00 price objective on Cigna Group in a report on Thursday, August 14th. Leerink Partners cut their price objective on Cigna Group from $300.00 to $270.00 in a research report on Friday, October 31st. Finally, Cowen reaffirmed a “buy” rating on shares of Cigna Group in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $344.91.

Cigna Group Stock Up 3.2%

CI opened at $264.54 on Friday. The company has a market cap of $70.66 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.88 and a beta of 0.44. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The business’s 50-day moving average price is $293.24 and its 200-day moving average price is $303.77.

Cigna Group (NYSE:CI) last issued its earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, topping the consensus estimate 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%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $7.51 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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 given a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s dividend payout ratio (DPR) is currently 26.64%.

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.