Canoe Financial LP Buys 1,884 Shares of Cigna Group $CI

Canoe Financial LP increased its stake in shares of Cigna Group (NYSE:CI) by 53.1% in the third quarter, Holdings Channel.com reports. The fund owned 5,433 shares of the health services provider’s stock after purchasing an additional 1,884 shares during the period. Canoe Financial LP’s holdings in Cigna Group were worth $1,566,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. grew its position in shares of Cigna Group by 119.5% during the third quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 49 shares in the last quarter. Flaharty Asset Management LLC bought a new position in Cigna Group during the first quarter valued at approximately $28,000. 1248 Management LLC bought a new position in Cigna Group during the first quarter valued at approximately $29,000. Solstein Capital LLC purchased a new position in Cigna Group during the 2nd quarter valued at approximately $29,000. Finally, Activest Wealth Management increased its stake in Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after acquiring an additional 72 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Price Performance

CI stock opened at $274.86 on Friday. The stock has a market cap of $73.42 billion, a PE ratio of 12.12, a P/E/G ratio of 1.00 and a beta of 0.26. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00. The company has a 50-day moving average price of $275.72 and a 200 day moving average price of $291.80. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.74.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The business had revenue of $69.57 billion during the quarter, compared to the consensus estimate of $66.40 billion. During the same quarter last year, the firm earned $7.51 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were issued a dividend of $1.51 per share. The ex-dividend date was Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.2%. Cigna Group’s payout ratio is presently 26.64%.

Analyst Upgrades and Downgrades

CI has been the subject of a number of recent research reports. Zacks Research lowered shares of Cigna Group from a “hold” rating to a “strong sell” rating in a report on Monday, November 3rd. Barclays dropped their price objective on shares of Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Robert W. Baird decreased their target price on shares of Cigna Group from $372.00 to $315.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. Wall Street Zen lowered Cigna Group from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Morgan Stanley reissued an “overweight” rating and set a $355.00 price objective on shares of Cigna Group in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $331.83.

Insider Buying and Selling at Cigna Group

In related news, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction dated 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 transaction, the insider owned 51,182 shares of the company’s stock, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David Cordani acquired 4,134 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $241.88 per share, with a total value of $999,931.92. Following the acquisition, the chief executive officer directly owned 157,935 shares in the company, valued at $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.70% of the company’s stock.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.