Connecticut Wealth Management LLC Increases Stock Position in Cigna Group $CI

Key Points

• Connecticut Wealth Management LLC increased its stake in Cigna Group by 39.5%, owning 6,540 shares valued at $2.15 million after purchasing an additional 1,851 shares this quarter.
• Cigna Group reported earnings per share of $7.20, surpassing analysts' expectations, with quarterly revenue increasing 11.0% year-over-year to $67.13 billion.
• The company declared a quarterly dividend of $1.51 per share, representing a 2.0% dividend yield with a payout ratio of 32.97%.

Connecticut Wealth Management LLC grew its position in Cigna Group (NYSE:CI - Free Report) by 39.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,540 shares of the health services provider's stock after purchasing an additional 1,851 shares during the period. Connecticut Wealth Management LLC's holdings in Cigna Group were worth $2,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Family Legacy Inc. raised its holdings in shares of Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after purchasing an additional 31 shares during the last quarter. Impact Investors Inc raised its holdings in shares of Cigna Group by 1.6% in the first 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 last quarter. Mission Wealth Management LP raised its holdings in shares of Cigna Group by 1.5% in the first 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 last quarter. Westend Capital Management LLC raised its holdings in shares of Cigna Group by 8.1% in the first 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 last quarter. Finally, Moody National Bank Trust Division raised its holdings in shares of Cigna Group by 0.7% in the first 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 last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Price Performance

Shares of NYSE:CI opened at $301.39 on Friday. 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 firm has a market capitalization of $80.45 billion, a PE ratio of 16.45, a P/E/G ratio of 0.88 and a beta of 0.47. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The company has a 50-day moving average price of $299.56 and a two-hundred day moving average price of $311.71.

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 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 firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same quarter last year, the business earned $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. Equities analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is 32.97%.

Insider Activity at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CI. Barclays lowered their target price on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a report on Friday, August 1st. Morgan Stanley raised their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Truist Financial raised their price objective on shares of Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Cantor Fitzgerald restated an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $374.82.

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.

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