1832 Asset Management L.P. Makes New $2.52 Million Investment in Cigna Group $CI

1832 Asset Management L.P. acquired a new stake in Cigna Group (NYSE:CI) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,612 shares of the health services provider’s stock, valued at approximately $2,516,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CI. Flaharty Asset Management LLC acquired a new stake in Cigna Group during the 1st quarter valued at $28,000. 1248 Management LLC bought a new position in shares of Cigna Group in the first quarter valued at about $29,000. Solstein Capital LLC acquired a new stake in shares of Cigna Group during the 2nd quarter worth about $29,000. Activest Wealth Management lifted its stake 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 buying an additional 72 shares during the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of Cigna Group during the 2nd quarter worth about $30,000. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CI has been the topic of several research analyst reports. UBS Group set a $294.00 price target on shares of Cigna Group in a report on Wednesday, November 12th. Deutsche Bank Aktiengesellschaft lowered their target price on Cigna Group from $415.00 to $301.00 and set a “buy” rating on the stock in a research note on Monday, November 3rd. The Goldman Sachs Group reduced their price target on Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Wells Fargo & Company decreased their price objective on Cigna Group from $354.00 to $300.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Finally, Cowen reissued a “buy” rating on shares of Cigna Group in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Cigna Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $334.45.

Cigna Group Stock Down 1.2%

CI opened at $265.13 on Friday. Cigna Group has a twelve month low of $239.51 and a twelve month high of $350.00. The company’s 50-day moving average price is $283.21 and its two-hundred day moving average price is $295.92. The stock has a market cap of $70.82 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 0.97 and a beta of 0.26. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The company had revenue of $69.57 billion for the quarter, compared to analysts’ expectations of $66.40 billion. During the same quarter in the previous year, the firm posted $7.51 EPS. Cigna Group’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a $1.51 dividend. The ex-dividend date is Thursday, December 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.3%. Cigna Group’s payout ratio is presently 26.64%.

Insiders Place Their Bets

In other news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction 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 completion of the transaction, the insider owned 51,182 shares in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani acquired 4,134 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $241.88 per share, with a total value of $999,931.92. Following the acquisition, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. The trade was a 2.69% increase in their position. The SEC filing for this purchase provides additional information. 0.70% of the stock is owned by corporate insiders.

Cigna Group Company 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.