Conning Inc. Boosts Stake in Cigna Group $CI

Conning Inc. lifted its holdings in shares of Cigna Group (NYSE:CI) by 5,375.3% in the third quarter, HoldingsChannel.com reports. The firm owned 104,468 shares of the health services provider’s stock after acquiring an additional 102,560 shares during the quarter. Conning Inc.’s holdings in Cigna Group were worth $30,113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Solstein Capital LLC acquired a new position in Cigna Group in the second quarter valued at about $29,000. Harbor Capital Advisors Inc. raised its stake in shares of Cigna Group by 119.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock valued at $26,000 after acquiring an additional 49 shares during the period. Chilton Capital Management LLC acquired a new position in shares of Cigna Group in the 2nd quarter worth approximately $30,000. Princeton Global Asset Management LLC boosted its position in shares of Cigna Group by 115.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock worth $32,000 after purchasing an additional 52 shares during the period. Finally, Quaker Wealth Management LLC increased its holdings in Cigna Group by 201.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 106 shares of the health services provider’s stock valued at $35,000 after purchasing an additional 211 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CI. Leerink Partners decreased their price target on Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $307.00 price objective on shares of Cigna Group in a report on Tuesday, January 6th. Guggenheim restated a “buy” rating and set a $318.00 target price on shares of Cigna Group in a report on Tuesday, December 2nd. TD Cowen dropped their target price on Cigna Group from $387.00 to $333.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. Finally, Robert W. Baird reduced their price target 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. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $330.48.

Insider Activity

In other news, CEO David Cordani bought 4,134 shares of the stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of $241.88 per share, for a total transaction of $999,931.92. Following the completion of the purchase, the chief executive officer owned 157,935 shares in the company, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Cigna Group Stock Performance

Shares of CI opened at $272.03 on Thursday. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The stock has a market capitalization of $72.67 billion, a PE ratio of 12.00, a PEG ratio of 0.96 and a beta of 0.26. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a 50-day simple moving average of $273.04 and a 200-day simple moving average of $287.88.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The firm had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. During the same period in the prior year, the firm earned $7.51 earnings per share. The business’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. On average, analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

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

About Cigna Group

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.