Edgestream Partners L.P. Buys New Stake in Cigna Group $CI

Edgestream Partners L.P. purchased a new stake in Cigna Group (NYSE:CI) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,691 shares of the health services provider’s stock, valued at approximately $1,551,000.

Other institutional investors have also modified their holdings of the company. Flaharty Asset Management LLC purchased a new stake in shares of Cigna Group in the first quarter worth about $28,000. 1248 Management LLC acquired a new position in Cigna Group in the first quarter valued at approximately $29,000. Solstein Capital LLC purchased a new stake in Cigna Group in the 2nd quarter worth approximately $29,000. Activest Wealth Management grew 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 purchasing an additional 72 shares during the period. Finally, Chilton Capital Management LLC purchased a new position in shares of Cigna Group during the 2nd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Transactions at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following 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. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO David Cordani purchased 4,134 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average price of $241.88 per share, for a total transaction of $999,931.92. Following the completion of the transaction, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at $38,201,317.80. The trade was a 2.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.70% of the stock is owned by corporate insiders.

Cigna Group Stock Down 1.2%

CI opened at $265.13 on Friday. The company has a market cap of $70.82 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 0.97 and a beta of 0.26. Cigna Group has a twelve month low of $239.51 and a twelve month high of $350.00. The company has a 50-day moving average price of $283.21 and a 200 day moving average price of $295.92. 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 data 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 during the quarter, compared to analyst estimates of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.Cigna Group’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on CI. Leerink Partners decreased their target price on shares of Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research report on Thursday, August 14th. Truist Financial dropped their target price on Cigna Group from $375.00 to $310.00 in a research report on Friday, October 31st. Cantor Fitzgerald reduced their price target on Cigna Group from $365.00 to $325.00 in a report on Friday, October 31st. Finally, Cowen reiterated a “buy” rating on shares of Cigna Group in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $334.45.

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.