Perigon Wealth Management LLC Increases Stake in Cigna Group $CI

Perigon Wealth Management LLC increased its holdings in Cigna Group (NYSE:CI) by 41.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,698 shares of the health services provider’s stock after purchasing an additional 3,453 shares during the quarter. Perigon Wealth Management LLC’s holdings in Cigna Group were worth $3,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CI. Brighton Jones LLC lifted its stake in shares of 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 acquiring an additional 318 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ increased its stake in Cigna Group by 27.5% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 3,474 shares of the health services provider’s stock worth $1,143,000 after purchasing an additional 750 shares during the period. Baird Financial Group Inc. lifted its position in Cigna Group by 9.7% in the first quarter. Baird Financial Group Inc. now owns 41,966 shares of the health services provider’s stock valued at $13,807,000 after purchasing an additional 3,720 shares during the last quarter. Quarry LP lifted its position in Cigna Group by 75.3% in the first quarter. Quarry LP now owns 675 shares of the health services provider’s stock valued at $222,000 after purchasing an additional 290 shares during the last quarter. Finally, MAI Capital Management boosted its stake in shares of Cigna Group by 2.2% during the first quarter. MAI Capital Management now owns 9,116 shares of the health services provider’s stock valued at $2,999,000 after purchasing an additional 195 shares during the period. 86.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Morgan Stanley restated an “overweight” rating and issued a $355.00 price objective on shares of Cigna Group in a research report on Friday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of Cigna Group from $428.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, November 4th. UBS Group set a $294.00 target price on Cigna Group in a research note on Wednesday, November 12th. Finally, Guggenheim reiterated a “buy” rating and issued a $318.00 price objective on shares of Cigna Group in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Cigna Group presently has an average rating of “Moderate Buy” and an average price target of $331.83.

Insider Transactions at Cigna Group

In related news, insider Brian C. Evanko sold 5,368 shares of the stock in a transaction dated Friday, October 3rd. The shares were 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 directly owned 51,182 shares in the company, valued at $15,354,600. This trade represents a 9.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Cordani purchased 4,134 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were acquired 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 in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.70% of the stock is owned by corporate insiders.

Cigna Group Stock Performance

Shares of CI opened at $276.01 on Tuesday. The company has a 50-day simple moving average of $274.63 and a two-hundred day simple moving average of $291.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $73.73 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 1.00 and a beta of 0.25. Cigna Group has a one year low of $239.51 and a one year high of $350.00.

Cigna Group (NYSE:CI) last posted its earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. The firm had revenue of $69.57 billion for the quarter, compared to the consensus estimate of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th were issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, December 4th. Cigna Group’s payout ratio is 26.64%.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.