Bayforest Capital Ltd Takes $1.35 Million Position in Cigna Group $CI

Key Points

• Bayforest Capital Ltd acquired 4,112 shares of Cigna Group, valued at approximately $1.35 million, making it the firm's 9th largest holding.
• Insider Nicole S. Jones sold 28,526 shares of Cigna at an average price of $300.00, resulting in a 52.66% decrease in her position.
• Cigna Group recently reported earnings of $7.20 EPS for the last quarter, exceeding estimates and indicating an 11% revenue increase from the previous year.

Bayforest Capital Ltd acquired a new stake in shares of Cigna Group (NYSE:CI - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 4,112 shares of the health services provider's stock, valued at approximately $1,353,000. Cigna Group accounts for approximately 0.6% of Bayforest Capital Ltd's investment portfolio, making the stock its 9th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 1248 Management LLC bought a new stake in shares of Cigna Group during the 1st quarter valued at $29,000. Activest Wealth Management raised 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 valued at $30,000 after purchasing an additional 72 shares during the period. Putney Financial Group LLC bought a new stake in shares of Cigna Group during the 4th quarter valued at $36,000. Saudi Central Bank bought a new stake in shares of Cigna Group during the 1st quarter valued at $36,000. Finally, Evermay Wealth Management LLC raised its stake in shares of Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock valued at $37,000 after purchasing an additional 41 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.70% of the stock is owned by corporate insiders.

Cigna Group Price Performance

CI stock traded up $3.49 during mid-day trading on Thursday, hitting $305.93. 1,443,759 shares of the stock were exchanged, compared to its average volume of 1,490,656. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The business has a fifty day moving average price of $295.81 and a 200 day moving average price of $312.08. Cigna Group has a 12 month low of $256.89 and a 12 month high of $370.83. The stock has a market capitalization of $81.66 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 0.89 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the previous year, the company posted $6.72 earnings per share. The company's revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group's payout ratio is currently 32.97%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CI. Cantor Fitzgerald reissued an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a research note on Tuesday, August 26th. Robert W. Baird set a $372.00 price objective on Cigna Group in a research note on Thursday, August 14th. Guggenheim reissued a "buy" rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company dropped their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Cigna Group currently has an average rating of "Buy" and an average target price of $374.76.

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.