Foster Victor Wealth Advisors LLC Has $18.13 Million Stock Position in Cigna Group $CI

Key Points

• Foster Victor Wealth Advisors LLC increased its stake in Cigna Group by 9.9%, acquiring a total of 58,535 shares valued at approximately $18.13 million, making it the firm's 22nd largest holding.
• Institutional investors own 86.99% of Cigna Group's stock, reflecting significant confidence in the company, while several hedge funds, including Price T Rowe Associates Inc. MD and GQG Partners LLC, have also boosted their holdings.
• Cigna Group recently reported $7.20 EPS for the last quarter, surpassing estimates, alongside a quarterly dividend announcement of $1.51 per share, indicating robust financial performance.

Foster Victor Wealth Advisors LLC boosted its holdings in Cigna Group (NYSE:CI - Free Report) by 9.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,535 shares of the health services provider's stock after buying an additional 5,259 shares during the period. Cigna Group makes up about 1.2% of Foster Victor Wealth Advisors LLC's investment portfolio, making the stock its 22nd largest position. Foster Victor Wealth Advisors LLC's holdings in Cigna Group were worth $18,133,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in Cigna Group by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock valued at $3,966,690,000 after purchasing an additional 1,094,327 shares during the period. Massachusetts Financial Services Co. MA grew its position in Cigna Group by 0.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,654,993 shares of the health services provider's stock worth $3,834,493,000 after buying an additional 98,715 shares in the last quarter. Dodge & Cox increased its stake in Cigna Group by 1.3% during the first quarter. Dodge & Cox now owns 8,889,733 shares of the health services provider's stock valued at $2,924,722,000 after acquiring an additional 117,125 shares during the period. GQG Partners LLC raised its holdings in Cigna Group by 21.5% in the 1st quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider's stock valued at $1,607,716,000 after acquiring an additional 865,092 shares in the last quarter. Finally, Parnassus Investments LLC grew its holdings in shares of Cigna Group by 3.1% during the 1st quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider's stock worth $949,357,000 after purchasing an additional 86,602 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent research reports. Truist Financial set a $375.00 price objective on shares of Cigna Group in a research note on Tuesday, September 2nd. Cantor Fitzgerald restated an "overweight" rating and issued a $365.00 target price on shares of Cigna Group in a research note on Tuesday, August 26th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. 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 report on Thursday, August 14th. Finally, Guggenheim reaffirmed a "buy" rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $371.81.

Insiders Place Their Bets

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 stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.70% of the company's stock.

Cigna Group Trading Up 0.4%

CI opened at $289.87 on Wednesday. The firm's fifty day moving average is $293.46 and its two-hundred day 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 cap of $77.38 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 0.85 and a beta of 0.48. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $62.61 billion. During the same quarter in the prior year, the firm earned $6.72 earnings per share. The firm'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 research analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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

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.

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.