Permanent Capital Management LP Takes Position in Cigna Group $CI

Permanent Capital Management LP purchased a new position in Cigna Group (NYSE:CI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,041 shares of the health services provider’s stock, valued at approximately $877,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Cigna Group by 1.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 11,778,472 shares of the health services provider’s stock worth $3,893,727,000 after purchasing an additional 123,479 shares in the last quarter. Dodge & Cox boosted its holdings in Cigna Group by 0.7% in the 2nd quarter. Dodge & Cox now owns 8,950,610 shares of the health services provider’s stock worth $2,958,893,000 after buying an additional 60,877 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in Cigna Group by 86,071.1% during the 2nd 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 in the last quarter. Norges Bank acquired a new position in shares of Cigna Group during the second quarter valued at approximately $1,110,426,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Cigna Group by 24.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,508,740 shares of the health services provider’s stock valued at $829,339,000 after acquiring an additional 492,045 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Trading Up 0.5%

Shares of CI opened at $276.34 on Monday. Cigna Group has a 12-month low of $239.51 and a 12-month high of $350.00. The firm has a market capitalization of $73.82 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.00 and a beta of 0.25. The firm has a 50-day moving average price of $275.25 and a 200 day moving average price of $291.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74.

Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $66.40 billion. During the same period in the previous year, the business 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. Sell-side analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.2%. Cigna Group’s dividend payout ratio (DPR) is 26.64%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CI shares. Guggenheim reaffirmed a “buy” rating and issued a $318.00 price target on shares of Cigna Group in a research note on Tuesday, December 2nd. The Goldman Sachs Group lowered their target price on shares of Cigna Group from $370.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $310.00 target price on shares of Cigna Group in a research report on Monday, November 3rd. Morgan Stanley reissued an “overweight” rating and issued a $355.00 price target on shares of Cigna Group in a research note on Friday, October 31st. Finally, Truist Financial dropped their price objective on shares of Cigna Group from $375.00 to $310.00 in a research note on Friday, October 31st. One 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 company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $331.83.

Insiders Place Their Bets

In related news, insider Brian C. Evanko sold 5,368 shares of the business’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 sale, the insider directly owned 51,182 shares in the company, valued at approximately $15,354,600. The trade was a 9.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Cordani bought 4,134 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is owned by insiders.

About Cigna Group

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.