B. Riley Wealth Advisors Inc. Acquires Shares of 3,117 Cigna Group $CI

B. Riley Wealth Advisors Inc. purchased a new stake in shares of Cigna Group (NYSE:CI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,117 shares of the health services provider’s stock, valued at approximately $1,030,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC increased its position in Cigna Group by 86,071.1% in the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after buying an additional 3,471,249 shares during the period. Norges Bank acquired a new stake in shares of Cigna Group in the 2nd quarter worth about $1,110,426,000. Price T Rowe Associates Inc. MD lifted its position in Cigna Group by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after purchasing an additional 1,094,327 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Cigna Group by 24.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,508,740 shares of the health services provider’s stock valued at $829,339,000 after purchasing an additional 492,045 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in Cigna Group by 1,057.2% during the 2nd quarter. Balyasny Asset Management L.P. now owns 404,753 shares of the health services provider’s stock valued at $133,803,000 after purchasing an additional 369,775 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several recent analyst reports. The Goldman Sachs Group cut their target price on Cigna Group from $370.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Cantor Fitzgerald lowered their price target on Cigna Group from $365.00 to $325.00 in a report on Friday, October 31st. Sanford C. Bernstein reduced their price objective on shares of Cigna Group from $346.00 to $294.00 and set a “market perform” rating for the company in a report on Wednesday, November 12th. Truist Financial lowered their target price on shares of Cigna Group from $375.00 to $310.00 in a research note on Friday, October 31st. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Cigna Group in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.83.

Insider Activity at Cigna Group

In other news, CEO David Cordani purchased 4,134 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average price of $241.88 per share, for a total transaction of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares of the company’s stock, valued at $38,201,317.80. The trade was a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated 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 of the company’s stock, valued at $15,354,600. The trade was a 9.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.70% of the stock is owned by company insiders.

Cigna Group Stock Up 0.8%

Cigna Group stock opened at $276.98 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $73.99 billion, a PE ratio of 12.22, a PEG ratio of 1.00 and a beta of 0.25. The firm’s fifty day moving average is $279.91 and its 200 day moving average is $293.66. Cigna Group has a 12-month low of $239.51 and a 12-month high of $350.00.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The firm had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. During the same quarter last year, the firm posted $7.51 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current fiscal 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 given a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.2%. 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.