Grant Private Wealth Management Inc Purchases New Position in Cigna Group $CI

Key Points

• Grant Private Wealth Management purchased 3,425 shares of Cigna Group valued at approximately $931,000 during the third quarter. Institutional investors and hedge funds collectively own 86.99% of Cigna’s stock.
• Analysts maintain a generally positive outlook, with 15 Buy ratings and eight Hold ratings, producing a consensus “Moderate Buy” rating and an average price target of $338.24.
• Cigna reported quarterly earnings of $7.78 per share, exceeding estimates, while revenue rose 6.7% year over year to $71.56 billion. The company also pays a quarterly dividend of $1.56, representing a 2.1% annualized yield.

Grant Private Wealth Management Inc purchased a new stake in Cigna Group (NYSE:CI - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,425 shares of the health services provider's stock, valued at approximately $931,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Cigna Group by 3.7% during the 2nd quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider's stock worth $6,461,457,000 after buying an additional 840,098 shares during the period. GQG Partners LLC acquired a new position in Cigna Group in the 2nd quarter valued at $1,628,918,000. Bank of America Corp DE raised its holdings in Cigna Group by 8.8% in the 1st quarter. Bank of America Corp DE now owns 3,182,083 shares of the health services provider's stock worth $848,821,000 after acquiring an additional 256,677 shares during the period. Dimensional Fund Advisors LP raised its holdings in Cigna Group by 10.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,426,218 shares of the health services provider's stock worth $647,008,000 after acquiring an additional 236,340 shares during the period. Finally, Legal & General Group Plc acquired a new position in Cigna Group during the 2nd quarter worth $542,779,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CI. Evercore began coverage on shares of Cigna Group in a report on Wednesday, September 9th. They set an "in-line" rating and a $290.00 price target for the company. Barclays raised their price target on Cigna Group from $304.00 to $310.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. UBS Group reiterated a "buy" rating on shares of Cigna Group in a research note on Thursday, October 1st. Guggenheim boosted their price objective on Cigna Group from $338.00 to $361.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Cigna Group in a research report on Thursday, August 27th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $338.24.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Nicole Jones sold 19,436 shares of Cigna Group stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $276.27, for a total transaction of $5,369,583.72. Following the sale, the insider owned 27,256 shares in the company, valued at $7,530,015.12. The trade was a 41.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the business's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the sale, the insider directly owned 5,053 shares in the company, valued at $1,435,304.65. This trade represents a 10.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 22,730 shares of company stock valued at $6,293,359. 0.60% of the stock is owned by company insiders.

Cigna Group Trading Up 0.1%

Cigna Group stock opened at $302.48 on Monday. The business has a 50 day moving average price of $278.87 and a two-hundred day moving average price of $281.99. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. Cigna Group has a 12 month low of $239.51 and a 12 month high of $311.34. The stock has a market cap of $79.93 billion, a price-to-earnings ratio of 12.51, a price-to-earnings-growth ratio of 1.02 and a beta of 0.29.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 earnings per share for the quarter, topping the consensus estimate of $7.60 by $0.18. The company had revenue of $71.56 billion for the quarter, compared to analyst estimates of $70.14 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%. Cigna Group's revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $7.20 EPS. Cigna Group has set its FY 2026 guidance at 30.450- EPS. As a group, equities analysts forecast that Cigna Group will post 30.50 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th were given a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 8th. Cigna Group's dividend payout ratio (DPR) is 25.82%.

Cigna Group Profile

The Cigna Group NYSE: CI is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.

The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.

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