Merit Financial Group LLC Cuts Stock Holdings in Cigna Group $CI

Merit Financial Group LLC lessened its stake in Cigna Group (NYSE:CI) by 33.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,745 shares of the health services provider’s stock after selling 2,423 shares during the quarter. Merit Financial Group LLC’s holdings in Cigna Group were worth $1,368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its holdings in Cigna Group by 119.5% in the third quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 49 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in shares of Cigna Group in the 1st quarter valued at about $28,000. Solstein Capital LLC purchased a new stake in shares of Cigna Group during the 2nd quarter worth about $29,000. Chilton Capital Management LLC acquired a new stake in Cigna Group during the 2nd quarter worth approximately $30,000. Finally, Princeton Global Asset Management LLC increased its position in Cigna Group by 115.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock worth $32,000 after purchasing an additional 52 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Cigna Group in a research report on Monday, December 29th. Wells Fargo & Company reduced their target price on shares of Cigna Group from $354.00 to $300.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. TD Cowen lowered their price target on Cigna Group from $387.00 to $333.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Truist Financial boosted their price objective on Cigna Group from $310.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $310.00 target price on shares of Cigna Group in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Cigna Group currently has an average rating of “Moderate Buy” and a consensus price target of $332.48.

Cigna Group Stock Performance

NYSE:CI opened at $283.91 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day moving average of $271.77 and a two-hundred day moving average of $289.71. The stock has a market cap of $75.84 billion, a P/E ratio of 12.52, a PEG ratio of 0.98 and a beta of 0.26. Cigna Group has a 1-year low of $239.51 and a 1-year 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, topping 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 business 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 company earned $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. On average, research analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, December 4th. Cigna Group’s dividend payout ratio is 26.64%.

Insider Buying and Selling at Cigna Group

In related news, CEO David Cordani purchased 4,134 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average price of $241.88 per share, with a total value of $999,931.92. Following the completion of the transaction, the chief executive officer owned 157,935 shares of the company’s stock, valued at $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company’s stock.

Cigna Group Company Profile

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.