Wedmont Private Capital Grows Position in Cigna Group $CI

Key Points

• Wedmont Private Capital increased its stake in Cigna Group by 34.4% in Q2, owning 6,261 shares valued at approximately $1.94 million as of the latest SEC filing.
• Cigna Group reported quarterly earnings of $7.20 per share, surpassing analysts' expectations by $0.05, with revenue of $67.13 billion representing an 11.0% year-over-year increase.
• The company also declared a quarterly dividend of $1.51 per share, reflecting an annualized yield of 2.1%, with a payout ratio of 32.97%.

Wedmont Private Capital lifted its stake in shares of Cigna Group (NYSE:CI - Free Report) by 34.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,261 shares of the health services provider's stock after purchasing an additional 1,603 shares during the period. Wedmont Private Capital's holdings in Cigna Group were worth $1,939,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CI. Brighton Jones LLC boosted its stake in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after purchasing an additional 318 shares during the period. Waverly Advisors LLC boosted its position in Cigna Group by 102.3% in the fourth quarter. Waverly Advisors LLC now owns 11,400 shares of the health services provider's stock valued at $3,148,000 after buying an additional 5,764 shares in the last quarter. Focus Partners Advisor Solutions LLC lifted its holdings in Cigna Group by 15.7% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 2,940 shares of the health services provider's stock valued at $812,000 after buying an additional 399 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Cigna Group by 12.9% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 53,530 shares of the health services provider's stock valued at $14,782,000 after buying an additional 6,127 shares during the period. Finally, Highview Capital Management LLC DE bought a new stake in Cigna Group in the fourth quarter valued at approximately $287,000. Institutional investors own 86.99% of the company's stock.

Cigna Group Stock Performance

Cigna Group stock traded down $3.60 during trading hours on Friday, hitting $290.16. The company had a trading volume of 2,573,913 shares, compared to its average volume of 1,328,766. The firm has a 50-day moving average of $293.99 and a 200 day moving average of $311.56. Cigna Group has a one year low of $256.89 and a one year high of $358.91. The firm has a market cap of $77.45 billion, a PE ratio of 15.84, a PEG ratio of 0.85 and a beta of 0.48. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.15 by $0.05. The firm 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%. The company's revenue for the quarter was up 11.0% on a year-over-year basis. During the same quarter last year, the firm earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen raised shares of Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Truist Financial set a $375.00 target price on shares of Cigna Group in a report on Tuesday, September 2nd. Robert W. Baird set a $372.00 price target on Cigna Group in a research note on Thursday, August 14th. Cantor Fitzgerald restated an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a report on Tuesday, August 26th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $371.81.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 28,526 shares of the firm'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 sale, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company 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.