Edgestream Partners L.P. Takes $1.55 Million Position in Cigna Group $CI

Edgestream Partners L.P. acquired a new position in shares of Cigna Group (NYSE:CI) in the 2nd quarter, HoldingsChannel reports. The firm acquired 4,691 shares of the health services provider’s stock, valued at approximately $1,551,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CI. Brighton Jones LLC lifted its holdings in Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after acquiring an additional 318 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cigna Group by 3.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,037,898 shares of the health services provider’s stock valued at $670,468,000 after purchasing an additional 60,140 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Cigna Group by 5.3% during the 1st quarter. Chicago Partners Investment Group LLC now owns 3,791 shares of the health services provider’s stock worth $1,268,000 after purchasing an additional 190 shares during the period. Altfest L J & Co. Inc. acquired a new stake in shares of Cigna Group during the 1st quarter worth about $574,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Cigna Group by 11.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 491,869 shares of the health services provider’s stock valued at $161,825,000 after buying an additional 49,405 shares during the period. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the transaction, the insider owned 51,182 shares in the company, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Cordani acquired 4,134 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $241.88 per share, with a total value of $999,931.92. Following the completion of the transaction, the chief executive officer owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This represents a 2.69% increase in their position. The SEC filing for this purchase provides additional information. 0.70% of the stock is owned by company insiders.

Cigna Group Price Performance

Shares of CI opened at $265.13 on Friday. The company has a market cap of $70.82 billion, a P/E ratio of 11.70, a PEG ratio of 0.97 and a beta of 0.26. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The firm’s 50 day moving average price is $283.21 and its 200 day moving average price is $295.92.

Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, beating 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 company had revenue of $69.57 billion during the quarter, compared to analysts’ expectations of $66.40 billion. During the same quarter last year, the company posted $7.51 EPS. The firm’s 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, research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a dividend of $1.51 per share. The ex-dividend date is Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.3%. Cigna Group’s dividend payout ratio is 26.64%.

Wall Street Analyst Weigh In

CI has been the subject of several research analyst reports. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a research note on Thursday, August 14th. Sanford C. Bernstein decreased their price objective on shares of Cigna Group from $346.00 to $294.00 and set a “market perform” rating on the stock in a report on Wednesday, November 12th. Wolfe Research lowered their price objective on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a research report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Cigna Group in a research report on Monday. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Cigna Group in a research note on Monday, November 3rd. One 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $334.45.

Cigna Group 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.