Cigna Group $CI Shares Acquired by Spirepoint Private Client LLC

Key Points

• Spirepoint Private Client LLC has increased its stake in Cigna Group by 4.6%, owning now 27,113 shares valued at approximately $8.96 million, making it the 27th largest position in their portfolio.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group at an average price of $300, resulting in a significant decrease of 52.66% in her ownership stake.
• Equities analysts have issued positive ratings for Cigna Group, with target prices ranging from $371 to $415, indicating strong potential for growth and a consensus rating of "Buy" from multiple analysts.

Spirepoint Private Client LLC raised its stake in shares of Cigna Group (NYSE:CI - Free Report) by 4.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,113 shares of the health services provider's stock after purchasing an additional 1,180 shares during the quarter. Cigna Group comprises 1.0% of Spirepoint Private Client LLC's holdings, making the stock its 27th biggest position. Spirepoint Private Client LLC's holdings in Cigna Group were worth $8,963,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Family Legacy Inc. boosted its holdings in shares of Cigna Group by 0.5% in the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after acquiring an additional 31 shares during the last quarter. Impact Investors Inc lifted its stake in shares of Cigna Group by 1.6% in the 1st quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after purchasing an additional 31 shares during the period. Mission Wealth Management LP lifted its stake in shares of Cigna Group by 1.5% in the 1st quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after purchasing an additional 32 shares during the period. Westend Capital Management LLC lifted its stake in shares of Cigna Group by 8.1% in the 1st quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after purchasing an additional 32 shares during the period. Finally, Moody National Bank Trust Division lifted its stake in shares of Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock valued at $1,509,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Activity

In other news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction on Friday, August 15th. The shares were 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 of the company's stock, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Cigna Group from $354.00 to $383.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of Cigna Group from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Finally, Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research report on Thursday, August 14th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Cigna Group has a consensus rating of "Buy" and an average price target of $371.81.

Cigna Group Stock Performance

NYSE:CI opened at $286.04 on Friday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The company has a fifty day moving average of $292.71 and a two-hundred day moving average of $310.51. The stock has a market capitalization of $76.35 billion, a PE ratio of 15.61, a P/E/G ratio of 0.83 and a beta of 0.48. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $358.88.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. During the same period in the prior year, the business posted $6.72 earnings per share. The firm's revenue for the quarter was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, research analysts forecast 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, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group's dividend payout ratio is presently 32.97%.

Cigna Group Company 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.