Cigna Group $CI Shares Bought by Banyan Capital Management Inc.

Key Points

• Banyan Capital Management Inc. increased its holdings in Cigna Group by 2.0% during Q2, with its investment now valued at approximately $18.3 million, making Cigna the 3rd largest position in its portfolio.
• Cigna Group reported earnings per share of $7.20 for the last quarter, surpassing the consensus estimate by $0.05, and its revenue grew 11.0% year-over-year to $67.13 billion.
• The company announced a quarterly dividend of $1.51 per share, translating to an annualized yield of 2.1%, with a payout ratio of just under 33%.

Banyan Capital Management Inc. lifted its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,505 shares of the health services provider's stock after acquiring an additional 1,096 shares during the quarter. Cigna Group accounts for about 9.4% of Banyan Capital Management Inc.'s investment portfolio, making the stock its 3rd biggest position. Banyan Capital Management Inc.'s holdings in Cigna Group were worth $18,349,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Flaharty Asset Management LLC acquired a new stake in Cigna Group during the 1st quarter valued at approximately $28,000. 1248 Management LLC purchased a new position in shares of Cigna Group during the 1st quarter valued at approximately $29,000. Activest Wealth Management grew its position in shares of Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock worth $30,000 after buying an additional 72 shares in the last quarter. Retirement Wealth Solutions LLC increased its stake in shares of Cigna Group by 74.1% in the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider's stock worth $33,000 after buying an additional 43 shares during the last quarter. Finally, Saudi Central Bank acquired a new stake in Cigna Group in the first quarter valued at $36,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Insider Activity at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction that occurred 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 sale, the insider owned 25,648 shares of the company's stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

Cigna Group Trading Up 0.4%

Shares of NYSE CI opened at $289.87 on Wednesday. Cigna Group has a 12-month low of $256.89 and a 12-month high of $358.88. The company has a market cap of $77.38 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 0.85 and a beta of 0.48. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The stock's 50 day simple moving average is $293.46 and its 200 day simple moving average is $311.15.

Cigna Group (NYSE:CI - Get Free Report) last issued its 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. 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 for the quarter, compared to analyst estimates of $62.61 billion. During the same period last year, the company earned $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. Equities research analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.1%. Cigna Group's dividend payout ratio is 32.97%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. Wall Street Zen raised Cigna Group from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Truist Financial set a $375.00 price objective on Cigna Group in a research note on Tuesday, September 2nd. Guggenheim reiterated a "buy" rating and issued a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $371.81.

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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