HB Wealth Management LLC Boosts Holdings in Cigna Group $CI

Key Points

• HB Wealth Management LLC increased its holdings in Cigna Group by 15.9%, owning 14,782 shares valued at approximately $4.89 million as of the end of Q2.
• Analysts have generally issued a Buy rating for Cigna Group, with a consensus price target of $371.81.
• Cigna Group declared a quarterly dividend of $1.51 per share, translating to an annual yield of 2.1%.

HB Wealth Management LLC raised its holdings in Cigna Group (NYSE:CI - Free Report) by 15.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,782 shares of the health services provider's stock after purchasing an additional 2,032 shares during the quarter. HB Wealth Management LLC's holdings in Cigna Group were worth $4,887,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CI. Janney Montgomery Scott LLC boosted its stake in shares of Cigna Group by 3.9% during the 2nd quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider's stock worth $11,882,000 after acquiring an additional 1,357 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in Cigna Group by 0.6% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 7,815 shares of the health services provider's stock worth $2,583,000 after purchasing an additional 46 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in Cigna Group by 44.9% during the second quarter. Moss Adams Wealth Advisors LLC now owns 1,004 shares of the health services provider's stock worth $332,000 after purchasing an additional 311 shares in the last quarter. GC Wealth Management RIA LLC boosted its position in Cigna Group by 218.9% during the second quarter. GC Wealth Management RIA LLC now owns 2,060 shares of the health services provider's stock worth $681,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Cairn Investment Group Inc. boosted its position in Cigna Group by 1.3% during the second quarter. Cairn Investment Group Inc. now owns 14,604 shares of the health services provider's stock worth $4,828,000 after purchasing an additional 193 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CI has been the topic of a number of recent analyst reports. Truist Financial set a $375.00 price target on Cigna Group in a research report on Tuesday, September 2nd. Barclays increased 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. Wells Fargo & Company lowered their price target 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. Wall Street Zen upgraded Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Cigna Group has a consensus rating of "Buy" and an average price target of $371.81.

Cigna Group Trading Up 0.5%

Shares of Cigna Group stock opened at $288.20 on Wednesday. The firm has a market capitalization of $76.93 billion, a PE ratio of 15.73, a P/E/G ratio of 0.84 and a beta of 0.48. 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 has a twelve month low of $256.89 and a twelve month high of $358.88. The firm's 50-day moving average price is $292.31 and its 200 day moving average price is $310.15.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.1%. Cigna Group's dividend payout ratio is presently 32.97%.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction dated Friday, August 15th. The shares were 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 owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.70% of the company's stock.

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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