Violich Capital Management Inc. Lowers Stock Holdings in Cigna Group $CI

Violich Capital Management Inc. trimmed its position in shares of Cigna Group (NYSE:CI) by 6.9% in the second quarter, HoldingsChannel.com reports. The fund owned 1,353 shares of the health services provider’s stock after selling 100 shares during the period. Violich Capital Management Inc.’s holdings in Cigna Group were worth $447,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC raised its position in Cigna Group by 79.0% in the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock valued at $1,775,000 after purchasing an additional 2,381 shares in the last quarter. CWA Asset Management Group LLC raised its position in Cigna Group by 17.8% in the 1st quarter. CWA Asset Management Group LLC now owns 932 shares of the health services provider’s stock valued at $306,000 after purchasing an additional 141 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in Cigna Group in the 1st quarter valued at about $233,000. Finally, Blue Trust Inc. raised its position in Cigna Group by 16.4% in the 1st quarter. Blue Trust Inc. now owns 2,245 shares of the health services provider’s stock valued at $739,000 after purchasing an additional 316 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on CI. The Goldman Sachs Group began coverage on Cigna Group in a research report on Tuesday. They issued a “buy” rating and a $370.00 price target on the stock. TD Cowen raised Cigna Group to a “strong-buy” rating in a research report on Monday, June 23rd. Barclays boosted their target price on Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Cantor Fitzgerald restated an “overweight” rating and set a $365.00 target price on shares of Cigna Group in a research note on Tuesday, August 26th. Finally, Guggenheim restated a “buy” rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $369.89.

Cigna Group Trading Up 3.0%

CI opened at $299.81 on Friday. The firm has a market cap of $80.03 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45. Cigna Group has a 52 week low of $256.89 and a 52 week high of $353.55. The business’s 50 day moving average is $297.27 and its two-hundred day moving average is $308.13. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65.

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

Cigna Group Announces Dividend

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

Insider Activity at Cigna Group

In other news, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

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.