GC Wealth Management RIA LLC Has $681,000 Stock Position in Cigna Group $CI

Key Points

• GC Wealth Management RIA LLC increased its stake in Cigna Group by 218.9% during Q2, owning 2,060 shares valued at $681,000 by the end of the reporting period.
• Insider Nicole S. Jones sold 28,526 shares of Cigna stock for approximately $8.56 million, representing a significant 52.66% decrease in their holdings.
• Cigna reported Q2 earnings of $7.20 per share, exceeding expectations, with revenue of $67.13 billion, marking an 11% year-over-year increase.

GC Wealth Management RIA LLC boosted its position in shares of Cigna Group (NYSE:CI - Free Report) by 218.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,060 shares of the health services provider's stock after purchasing an additional 1,414 shares during the period. GC Wealth Management RIA LLC's holdings in Cigna Group were worth $681,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CI. Flaharty Asset Management LLC acquired a new stake in Cigna Group during the first quarter valued at $28,000. 1248 Management LLC acquired a new stake in shares of Cigna Group in the first quarter worth about $29,000. Activest Wealth Management lifted its position in shares of Cigna Group by 360.0% in 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 during the last quarter. Retirement Wealth Solutions LLC lifted its position 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 shares of Cigna Group in the first quarter worth about $36,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Buying and Selling 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. This trade represents a 52.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial set a $375.00 price target on Cigna Group in a research report on Tuesday, September 2nd. Robert W. Baird set a $372.00 price target on Cigna Group in a research report on Thursday, August 14th. Barclays boosted their price target on Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Finally, Wells Fargo & Company dropped their price objective on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 14th. Two 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 company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $371.81.

Cigna Group Price Performance

Shares of CI stock opened at $288.20 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 capitalization of $76.93 billion, a P/E ratio of 15.73, a P/E/G ratio of 0.84 and a beta of 0.48. The stock has a 50 day moving average of $292.31 and a two-hundred day moving average of $310.15. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter last year, the firm earned $6.72 EPS. Cigna Group's revenue for the quarter was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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