Freestone Capital Holdings LLC Boosts Stock Position in Cigna Group $CI

Key Points

• Freestone Capital Holdings LLC increased its holdings in Cigna Group (NYSE:CI) by 4.1% over the first quarter, bringing its total shares to 33,635, valued at approximately $11.07 million.
• Cigna reported a quarterly earnings per share (EPS) of $7.20, surpassing estimates by $0.05, along with revenues of $67.13 billion, showing an 11.0% year-over-year growth.
• The company declared a quarterly dividend of $1.51, expected to be paid on September 18, reflecting a 2.0% yield and a payout ratio of 32.97%.

Freestone Capital Holdings LLC boosted its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,635 shares of the health services provider's stock after purchasing an additional 1,340 shares during the quarter. Freestone Capital Holdings LLC's holdings in Cigna Group were worth $11,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Affinity Investment Advisors LLC raised its stake in Cigna Group by 4.0% during the 1st quarter. Affinity Investment Advisors LLC now owns 3,110 shares of the health services provider's stock valued at $1,023,000 after purchasing an additional 120 shares during the period. Algert Global LLC bought a new stake in Cigna Group during the 1st quarter valued at approximately $5,454,000. Seven Mile Advisory increased its stake in Cigna Group by 14.2% in the 1st quarter. Seven Mile Advisory now owns 968 shares of the health services provider's stock worth $318,000 after acquiring an additional 120 shares during the last quarter. Raymond James Financial Inc. increased its stake in Cigna Group by 15.2% in the 1st quarter. Raymond James Financial Inc. now owns 1,310,087 shares of the health services provider's stock worth $431,019,000 after acquiring an additional 173,307 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its stake in Cigna Group by 4.4% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 3,376 shares of the health services provider's stock worth $1,111,000 after acquiring an additional 141 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Insider Transactions at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 25,648 shares in the company, valued at $7,694,400. The trade was a 52.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by insiders.

Cigna Group Trading Down 1.2%

Shares of Cigna Group stock traded down $3.5580 on Thursday, reaching $301.0120. The company had a trading volume of 998,994 shares, compared to its average volume of 1,852,274. The firm has a market cap of $80.35 billion, a price-to-earnings ratio of 16.43, a P/E/G ratio of 0.88 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm's 50-day moving average price is $301.44 and its two-hundred day moving average price is $311.25. Cigna Group has a 1 year low of $256.89 and a 1 year high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced 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. The firm had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, research analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. Cigna Group's payout ratio is presently 32.97%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CI. Morgan Stanley lifted their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Piper Sandler lifted their price objective on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Truist Financial lifted their price objective on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Guggenheim reaffirmed a "buy" rating and issued a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price 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.