Callan Family Office LLC Has $10.48 Million Stock Position in Cigna Group $CI

Key Points

• Callan Family Office LLC has significantly increased its stake in Cigna Group by 232.8%, acquiring an additional 22,179 shares during the second quarter, bringing its total holdings to 31,706 shares valued at approximately $10.48 million.
• Cigna Group reported a quarterly earnings per share of $7.20, exceeding estimates, with a revenue of $67.13 billion, representing an 11% increase from the previous year.
• The company declared a quarterly dividend of $1.51 per share, resulting in a 2.0% dividend yield and a payout ratio of 32.97%.

Callan Family Office LLC increased its stake in Cigna Group (NYSE:CI - Free Report) by 232.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,706 shares of the health services provider's stock after acquiring an additional 22,179 shares during the quarter. Callan Family Office LLC's holdings in Cigna Group were worth $10,481,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Modern Wealth Management LLC lifted its stake in Cigna Group by 91.3% in the first quarter. Modern Wealth Management LLC now owns 3,130 shares of the health services provider's stock valued at $1,030,000 after buying an additional 1,494 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Cigna Group by 3.9% during the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider's stock valued at $11,882,000 after acquiring an additional 1,357 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Cigna Group by 277.5% during the first quarter. Acadian Asset Management LLC now owns 8,274 shares of the health services provider's stock valued at $2,718,000 after acquiring an additional 6,082 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Cigna Group during the first quarter valued at approximately $431,000. Finally, Integrity Alliance LLC. bought a new stake in shares of Cigna Group during the first quarter valued at approximately $617,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Stock Down 0.1%

Shares of NYSE:CI opened at $306.39 on Friday. The company has a market capitalization of $81.78 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 0.90 and a beta of 0.45. 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 $293.90 and a two-hundred day moving average price of $309.42. Cigna Group has a 1 year low of $256.89 and a 1 year high of $358.88.

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

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $1.51 per share. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group's dividend payout ratio is presently 32.97%.

Analysts Set New Price Targets

Several research firms have recently commented on CI. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Cantor Fitzgerald restated an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Finally, Truist Financial set a $375.00 price objective on Cigna Group in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $372.69.

Insider Buying and Selling at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction on 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 in the company, valued at approximately $15,354,600. This represents a 9.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the transaction, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. The trade was a 52.66% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.