Park Avenue Securities LLC Acquires 4,976 Shares of Cigna Group $CI

Key Points

• Park Avenue Securities LLC increased its holdings in Cigna Group by 39.1%, acquiring an additional 4,976 shares during the second quarter, bringing its total to 17,694 shares valued at approximately $5.85 million.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group stock for $8.56 million, representing a 52.66% reduction in her ownership.
• Cigna Group reported a quarterly earnings per share (EPS) of $7.20, beating the consensus estimate of $7.15, with revenue of $67.13 billion, significantly higher than the expected $62.61 billion.

Park Avenue Securities LLC lifted its holdings in Cigna Group (NYSE:CI - Free Report) by 39.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,694 shares of the health services provider's stock after purchasing an additional 4,976 shares during the quarter. Park Avenue Securities LLC's holdings in Cigna Group were worth $5,849,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CI. Flaharty Asset Management LLC bought a new stake in shares of Cigna Group in the first quarter worth $28,000. 1248 Management LLC bought a new stake in shares of Cigna Group in the first quarter worth $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 purchasing an additional 72 shares in 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 purchasing an additional 43 shares in the last quarter. Finally, Putney Financial Group LLC bought a new stake in shares of Cigna Group in the fourth quarter worth $36,000. Institutional investors own 86.99% of the company's stock.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is owned by corporate insiders.

Cigna Group Price Performance

NYSE:CI opened at $288.97 on Tuesday. Cigna Group has a one year low of $256.89 and a one year high of $358.88. The company has a market cap of $77.13 billion, a P/E ratio of 15.77, a P/E/G ratio of 0.85 and a beta of 0.48. The firm's fifty day moving average price is $293.71 and its two-hundred day moving average price is $311.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. During the same period in the prior year, the company posted $6.72 earnings per share. Cigna Group's revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CI. Cantor Fitzgerald reissued an "overweight" rating and issued a $365.00 price objective on shares of Cigna Group in a research report on Tuesday, August 26th. Wells Fargo & Company lowered their target price on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday, August 14th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of Cigna Group from a "hold" rating to a "buy" rating in a 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 stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $371.81.

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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