Olympiad Research LP Takes $218,000 Position in Cigna Group $CI

Olympiad Research LP bought a new position in shares of Cigna Group (NYSE:CI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 660 shares of the health services provider’s stock, valued at approximately $218,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Flaharty Asset Management LLC acquired a new stake in Cigna Group during the 1st quarter valued at approximately $28,000. 1248 Management LLC bought a new position in Cigna Group in the first quarter worth approximately $29,000. Solstein Capital LLC bought a new position in shares of Cigna Group in the second quarter valued at $29,000. Chilton Capital Management LLC acquired a new position in Cigna Group during the 2nd quarter valued at about $30,000. Finally, Activest Wealth Management lifted its position in shares of Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 72 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

Cigna Group Price Performance

CI opened at $269.52 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The stock’s 50 day simple moving average is $289.75 and its 200 day simple moving average is $301.38. The firm has a market cap of $72.00 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.88 and a beta of 0.44.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. The business had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s payout ratio is 26.64%.

Insider Activity

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 51,182 shares of the company’s stock, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Cordani bought 4,134 shares of the stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the acquisition, the chief executive officer directly 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 disclosure for this purchase is available in the SEC filing. 0.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on CI shares. Zacks Research downgraded Cigna Group from a “hold” rating to a “strong sell” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a research note on Thursday. Wall Street Zen upgraded Cigna Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Cantor Fitzgerald decreased their target price on shares of Cigna Group from $365.00 to $325.00 in a report on Friday, October 31st. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Cigna Group in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Cigna Group currently has a consensus rating of “Moderate Buy” and an average price target of $334.05.

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.