Cigna Group $CI Position Boosted by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors LLC increased its stake in Cigna Group by 19.5%, bringing its total holdings to 7,740 shares valued at approximately $2.56 million.
• Other institutional investors also made significant moves, with Valeo Financial Advisors LLC raising its stake by 86,071.1% to own 3,475,282 shares worth about $1.15 billion.
• Analyst ratings are generally positive, with prices targets ranging from $365.00 to $415.00, indicating a consensus average rating of "Moderate Buy."

Sequoia Financial Advisors LLC grew its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 19.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,740 shares of the health services provider's stock after purchasing an additional 1,265 shares during the period. Sequoia Financial Advisors LLC's holdings in Cigna Group were worth $2,559,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Valeo Financial Advisors LLC lifted its stake in Cigna Group by 86,071.1% during the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider's stock valued at $1,148,859,000 after buying an additional 3,471,249 shares in the last quarter. Nuveen LLC purchased a new stake in Cigna Group during the first quarter valued at about $727,905,000. Price T Rowe Associates Inc. MD lifted its stake in Cigna Group by 10.0% during the first 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 buying an additional 1,094,327 shares in the last quarter. GQG Partners LLC lifted its stake in Cigna Group by 21.5% during the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock valued at $1,607,716,000 after buying an additional 865,092 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Cigna Group by 38.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider's stock valued at $542,796,000 after buying an additional 457,052 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research note on Thursday, August 14th. Barclays increased their price target on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Cigna Group has an average rating of "Moderate Buy" and an average price target of $369.89.

Cigna Group Trading Down 2.4%

Shares of CI stock opened at $294.79 on Thursday. Cigna Group has a 12 month low of $256.89 and a 12 month high of $358.88. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The business's 50 day moving average is $296.36 and its two-hundred day moving average is $308.77. The company has a market cap of $78.69 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 0.89 and a beta of 0.45.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating 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 company had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter last year, the company posted $6.72 earnings per share. The company's revenue for the quarter was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a $1.51 dividend. 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 (DPR) is presently 32.97%.

Insider Buying and Selling at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of the firm's stock in a transaction on 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 owned 51,182 shares in the company, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.70% of the company's stock.

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.

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.