Cigna Group $CI Shares Acquired by Wilsey Asset Management Inc.

Key Points

• Wilsey Asset Management Inc. increased its stake in Cigna Group by 2.9%, holding 101,936 shares valued at approximately $33.7 million, marking it as the 7th largest holding in their portfolio.
• Various hedge funds have also adjusted their positions, notably with Brighton Jones LLC increasing its shares by 9.3% in the fourth quarter, highlighting significant institutional interest in Cigna.
• Cigna Group reported strong quarterly earnings of $7.20 EPS, surpassing estimates, with an annual revenue growth of 11% compared to the previous year, emphasizing robust financial performance.

Wilsey Asset Management Inc. raised its position in shares of Cigna Group (NYSE:CI - Free Report) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,936 shares of the health services provider's stock after acquiring an additional 2,847 shares during the quarter. Cigna Group makes up about 6.2% of Wilsey Asset Management Inc.'s holdings, making the stock its 7th largest holding. Wilsey Asset Management Inc.'s holdings in Cigna Group were worth $33,698,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after purchasing an additional 318 shares in the last quarter. Ameriflex Group Inc. purchased a new stake in shares of Cigna Group in the fourth quarter valued at approximately $44,000. Great Valley Advisor Group Inc. grew its position in shares of Cigna Group by 46.6% in the fourth quarter. Great Valley Advisor Group Inc. now owns 12,058 shares of the health services provider's stock valued at $3,329,000 after purchasing an additional 3,831 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Cigna Group in the fourth quarter valued at approximately $53,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Cigna Group in the fourth quarter valued at approximately $77,488,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CI. Wall Street Zen upgraded Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Wells Fargo & Company dropped their price target on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Robert W. Baird set a $372.00 price objective on Cigna Group in a research report on Thursday, August 14th. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Truist Financial set a $375.00 price objective on Cigna Group in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $371.81.

Cigna Group Trading Up 0.4%

CI opened at $289.87 on Wednesday. Cigna Group has a 52 week low of $256.89 and a 52 week high of $358.88. The business has a fifty day simple moving average of $293.46 and a 200-day simple moving average of $311.15. The firm has a market cap of $77.38 billion, a P/E ratio of 15.82, a P/E/G ratio of 0.85 and a beta of 0.48. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 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 business had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same period last year, the business posted $6.72 earnings per share. The company's quarterly revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities analysts expect that Cigna Group will post 29.77 earnings per share 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. This represents a $6.04 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 32.97%.

Insider Activity

In other news, 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 sale, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

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