Northeast Financial Group Inc. Invests $1.17 Million in Cigna Group $CI

Key Points

• Northeast Financial Group Inc. invested approximately $1.17 million in Cigna Group by acquiring 3,532 shares during the second quarter.
• Cigna recently reported $67.13 billion in revenue for the last quarter, surpassing estimates and showing an 11.0% year-over-year growth.
• Analysts have a consensus price target of $371.81 for Cigna Group, with many investment firms issuing "buy" ratings following recent performance.

Northeast Financial Group Inc. bought a new position in shares of Cigna Group (NYSE:CI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,532 shares of the health services provider's stock, valued at approximately $1,168,000.

A number of other institutional investors have also added to or reduced their stakes in CI. Brighton Jones LLC increased its holdings in shares of Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after purchasing an additional 318 shares during the last quarter. Wellington Management Group LLP lifted its position in Cigna Group by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 16,869 shares of the health services provider's stock worth $4,658,000 after purchasing an additional 1,689 shares during the period. Fifth Third Wealth Advisors LLC lifted its position in Cigna Group by 2.3% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider's stock worth $535,000 after purchasing an additional 36 shares during the period. NBC Securities Inc. bought a new position in shares of Cigna Group in the first quarter worth about $123,000. Finally, Fragasso Financial Advisors Inc lifted its holdings in shares of Cigna Group by 8.1% in the first quarter. Fragasso Financial Advisors Inc now owns 1,168 shares of the health services provider's stock worth $384,000 after acquiring an additional 88 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Stock Up 0.5%

CI stock opened at $288.20 on Wednesday. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $76.93 billion, a PE ratio of 15.73, a PEG ratio of 0.84 and a beta of 0.48. The stock has a 50-day simple moving average of $292.31 and a two-hundred day simple moving average of $310.15.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS 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 during the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the previous year, the firm earned $6.72 earnings per share. Cigna Group's revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were given 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 payout ratio is presently 32.97%.

Wall Street Analysts Forecast Growth

CI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft set a $415.00 price objective on Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Barclays raised their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Finally, Wall Street Zen raised shares of Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $371.81.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 28,526 shares of the business's stock in a transaction that occurred on Friday, August 15th. The stock was 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 $7,694,400. The trade was a 52.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.70% of the stock is owned by insiders.

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.

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