Lansing Street Advisors Buys 1,617 Shares of Cigna Group $CI

Key Points

• Lansing Street Advisors increased its stake in Cigna Group by 60.4% by acquiring an additional 1,617 shares, bringing its total holdings to 4,293 shares valued at approximately $1,419,000.
• Cigna Group reported a quarterly EPS of $7.20, exceeding analysts' expectations of $7.15, with revenue of $67.13 billion, surpassing the forecasted $62.61 billion.
• The company declared a quarterly dividend of $1.51 per share, representing an annualized yield of 2.0%, with a dividend payout ratio of 32.97%.

Lansing Street Advisors grew its stake in shares of Cigna Group (NYSE:CI - Free Report) by 60.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,293 shares of the health services provider's stock after buying an additional 1,617 shares during the period. Lansing Street Advisors' holdings in Cigna Group were worth $1,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Legacy Inc. grew its holdings in Cigna Group by 0.5% in the 1st quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after buying an additional 31 shares in the last quarter. Impact Investors Inc increased its position in shares of Cigna Group by 1.6% in the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock worth $650,000 after purchasing an additional 31 shares during the period. Mission Wealth Management LP boosted its stake in Cigna Group by 1.5% in the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after buying an additional 32 shares in the last quarter. Westend Capital Management LLC boosted its stake in Cigna Group by 8.1% in the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock valued at $140,000 after buying an additional 32 shares in the last quarter. Finally, Financial Network Wealth Advisors LLC boosted its stake in Cigna Group by 26.8% in the first quarter. Financial Network Wealth Advisors LLC now owns 161 shares of the health services provider's stock valued at $53,000 after buying an additional 34 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Cigna Group Stock Up 1.4%

CI stock opened at $307.21 on Wednesday. The stock's fifty day simple moving average is $292.94 and its two-hundred day simple moving average is $309.54. 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 1-year low of $256.89 and a 1-year high of $358.88. The stock has a market cap of $82.00 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.89 and a beta of 0.45.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results 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. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter in the prior year, the firm earned $6.72 EPS. The business'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. Analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group's dividend payout ratio is currently 32.97%.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 28,526 shares of the company'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 transaction, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business's stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the sale, the insider owned 51,182 shares in the company, valued at approximately $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on CI shares. Guggenheim reissued a "buy" rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. Truist Financial set a $375.00 price objective on Cigna Group in a report on Tuesday, September 2nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cigna Group in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has an average rating of "Moderate Buy" and an average price target of $372.69.

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.

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