Balyasny Asset Management L.P. Buys 369,775 Shares of Cigna Group $CI

Balyasny Asset Management L.P. lifted its stake in Cigna Group (NYSE:CI) by 1,057.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 404,753 shares of the health services provider’s stock after purchasing an additional 369,775 shares during the quarter. Balyasny Asset Management L.P. owned about 0.15% of Cigna Group worth $133,803,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flaharty Asset Management LLC purchased a new position in Cigna Group during the first quarter worth $28,000. 1248 Management LLC bought a new stake in shares of Cigna Group in the 1st quarter worth about $29,000. Solstein Capital LLC purchased a new position in shares of Cigna Group during the 2nd quarter worth about $29,000. Activest Wealth Management grew its holdings in Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 72 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in Cigna Group in the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group set a $294.00 target price on Cigna Group in a research report on Wednesday, November 12th. Barclays dropped their price objective on Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Cowen reiterated a “buy” rating on shares of Cigna Group in a research note on Friday, December 5th. Morgan Stanley reissued an “overweight” rating and set a $355.00 target price on shares of Cigna Group in a research note on Friday, October 31st. Finally, Wolfe Research cut their price target on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $331.77.

Insider Activity at Cigna Group

In related news, CEO David Cordani purchased 4,134 shares of Cigna Group stock in a transaction dated 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 acquisition, the chief executive officer directly owned 157,935 shares in the company, valued at approximately $38,201,317.80. The trade was a 2.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction that occurred on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the transaction, the insider owned 51,182 shares of the company’s stock, valued at $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.70% of the stock is currently owned by company insiders.

Cigna Group Price Performance

Shares of CI stock opened at $274.70 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $73.38 billion, a price-to-earnings ratio of 12.12, a P/E/G ratio of 0.99 and a beta of 0.26. The stock has a fifty day simple moving average of $280.44 and a two-hundred day simple moving average of $294.17. Cigna Group has a twelve month low of $239.51 and a twelve month high of $350.00.

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

Cigna Group Announces Dividend

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

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.