Cigna Group $CI Stock Holdings Boosted by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Cigna Group by 15.2% during the first quarter, owning approximately 1.31 million shares valued at around $431 million.
• Analysts have given Cigna Group a consensus rating of "Moderate Buy", with a consensus price target of $378.33.
• Cigna Group recently announced a quarterly dividend of $1.51 per share, which translates to an annualized dividend yield of 2.0%.

Raymond James Financial Inc. boosted its stake in shares of Cigna Group (NYSE:CI - Free Report) by 15.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,310,087 shares of the health services provider's stock after acquiring an additional 173,307 shares during the quarter. Raymond James Financial Inc. owned about 0.49% of Cigna Group worth $431,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new position in shares of Cigna Group during the 4th quarter worth approximately $36,000. Evermay Wealth Management LLC raised its holdings in Cigna Group by 58.6% during the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after purchasing an additional 41 shares during the last quarter. Transce3nd LLC acquired a new position in Cigna Group during the fourth quarter worth $38,000. Richardson Financial Services Inc. acquired a new position in Cigna Group during the first quarter worth $38,000. Finally, Wayfinding Financial LLC acquired a new position in Cigna Group during the first quarter worth $40,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CI. Robert W. Baird set a $372.00 price objective on Cigna Group in a report on Thursday, August 14th. Wells Fargo & Company dropped their price target on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. TD Cowen raised Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Truist Financial boosted their price target on Cigna Group from $385.00 to $405.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Cigna Group has an average rating of "Buy" and an average target price of $374.82.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company'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 transaction of $8,557,800.00. Following the sale, the insider owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.70% of the stock is owned by insiders.

Cigna Group Trading Down 0.4%

Shares of NYSE:CI traded down $1.3180 during midday trading on Thursday, reaching $303.2520. The company's stock had a trading volume of 430,145 shares, compared to its average volume of 1,848,400. The firm has a market cap of $80.95 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.88 and a beta of 0.47. The company has a quick ratio of 0.71, a current 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 $370.83. The business has a 50 day moving average price of $301.44 and a 200 day moving average price of $311.25.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (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 during the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter in the previous year, the business earned $6.72 earnings per share. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group's dividend payout ratio is presently 32.97%.

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.