OFI Invest Asset Management Acquires 58 Shares of Cigna Group $CI

OFI Invest Asset Management increased its holdings in Cigna Group (NYSE:CI) by 22.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 314 shares of the health services provider’s stock after purchasing an additional 58 shares during the period. OFI Invest Asset Management’s holdings in Cigna Group were worth $104,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CI. Flaharty Asset Management LLC bought a new stake in shares of Cigna Group in the first quarter worth $28,000. 1248 Management LLC bought a new stake in shares of Cigna Group in the first quarter worth $29,000. Activest Wealth Management grew its stake in shares of Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC grew its stake in shares of Cigna Group by 74.1% in the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Finally, Saudi Central Bank bought a new stake in shares of Cigna Group in the first quarter worth $36,000. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, insider Nicole S. Jones sold 28,526 shares of the company’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 transaction, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction dated Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the transaction, the insider owned 51,182 shares in the company, valued at $15,354,600. This represents a 9.49% decrease in their position. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CI has been the topic of several analyst reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $365.00 price objective on shares of Cigna Group in a research note on Tuesday, August 26th. Barclays boosted their price objective on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Truist Financial set a $375.00 price target on shares of Cigna Group in a research report on Tuesday, September 2nd. Finally, Guggenheim reaffirmed a “buy” rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cigna Group has a consensus rating of “Moderate Buy” and an average price target of $372.69.

Cigna Group Stock Performance

Shares of CI opened at $301.00 on Monday. The firm’s fifty day simple moving average is $294.68 and its two-hundred day simple moving average is $309.12. Cigna Group has a 12 month low of $256.89 and a 12 month high of $358.88. The stock has a market capitalization of $80.35 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45. 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 announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter in the prior year, the business earned $6.72 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were issued a dividend of $1.51 per share. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio is currently 32.97%.

Cigna Group Company 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.