Fairvoy Private Wealth LLC Acquires Shares of 765 Cigna Group $CI

Fairvoy Private Wealth LLC acquired a new stake in shares of Cigna Group (NYSE:CI) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 765 shares of the health services provider’s stock, valued at approximately $253,000.

Other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in shares of Cigna Group in the first quarter valued at $727,905,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Cigna Group by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after purchasing an additional 1,094,327 shares in the last quarter. GQG Partners LLC grew its holdings in shares of Cigna Group by 21.5% in the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock valued at $1,607,716,000 after purchasing an additional 865,092 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Cigna Group by 38.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider’s stock valued at $542,796,000 after purchasing an additional 457,052 shares in the last quarter. Finally, Bank of Nova Scotia grew its holdings in shares of Cigna Group by 163.2% in the first quarter. Bank of Nova Scotia now owns 333,435 shares of the health services provider’s stock valued at $109,700,000 after purchasing an additional 206,739 shares in the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Truist Financial set a $375.00 target price on shares of Cigna Group in a report on Tuesday, September 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $365.00 price target on shares of Cigna Group in a research report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Guggenheim restated a “buy” rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Finally, Robert W. Baird set a $372.00 price target on Cigna Group in a research report on Thursday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cigna Group presently has an average rating of “Moderate Buy” and a consensus target price of $371.81.

Cigna Group Stock Up 4.8%

NYSE:CI opened at $311.24 on Friday. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. The company has a market cap of $83.08 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.87 and a beta of 0.45. The stock has a fifty day simple moving average of $292.41 and a 200-day simple moving average of $309.81. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65.

Cigna Group (NYSE:CI) last released its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The business had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. During the same period last year, the company earned $6.72 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, September 4th. Cigna Group’s payout ratio is presently 32.97%.

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.