Farther Finance Advisors LLC Raises Stock Holdings in Cigna Group $CI

Key Points

• Farther Finance Advisors LLC increased its stake in Cigna Group by 32.6% during the second quarter, raising their holdings to 4,646 shares valued at approximately $1.5 million.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group for about $8.56 million, which reduced her ownership by 52.66%.
• Cigna Group reported an increase in revenue by 11% year-over-year, totaling $67.13 billion for the last quarter, with an earnings per share of $7.20 that surpassed analyst expectations.

Farther Finance Advisors LLC increased its stake in shares of Cigna Group (NYSE:CI - Free Report) by 32.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,646 shares of the health services provider's stock after purchasing an additional 1,141 shares during the quarter. Farther Finance Advisors LLC's holdings in Cigna Group were worth $1,536,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Flaharty Asset Management LLC purchased a new stake in shares of Cigna Group during the 1st quarter worth $28,000. 1248 Management LLC acquired a new position in Cigna Group during the 1st quarter valued at about $29,000. Activest Wealth Management increased its position in Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after buying an additional 72 shares in the last quarter. Retirement Wealth Solutions LLC increased its position in Cigna Group by 74.1% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider's stock valued at $33,000 after buying an additional 43 shares in the last quarter. Finally, Saudi Central Bank acquired a new position in Cigna Group during the 1st quarter valued at about $36,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction dated 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 owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Cigna Group Stock Up 0.4%

Shares of CI stock opened at $289.87 on Wednesday. The stock's 50-day simple moving average is $293.46 and its 200-day simple moving average is $311.15. 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 firm has a market capitalization of $77.38 billion, a PE ratio of 15.82, a P/E/G ratio of 0.85 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 issued its earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $62.61 billion. During the same quarter in the prior year, the business earned $6.72 earnings per share. The company's revenue 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 expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.1%. Cigna Group's dividend payout ratio is presently 32.97%.

Analysts Set New Price Targets

Several research analysts recently issued reports on CI shares. Wells Fargo & Company reduced their target price on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 14th. TD Cowen raised Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Robert W. Baird set a $372.00 target price on Cigna Group in a research report on Thursday, August 14th. Wall Street Zen raised Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 target price on Cigna Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $371.81.

About Cigna Group

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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