Wedge Capital Management L L P NC Raises Stake in Cigna Group $CI

Wedge Capital Management L L P NC boosted its holdings in shares of Cigna Group (NYSE:CI) by 14.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,186 shares of the health services provider’s stock after buying an additional 3,763 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Cigna Group were worth $8,413,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Cigna Group by 1.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,778,472 shares of the health services provider’s stock worth $3,893,727,000 after acquiring an additional 123,479 shares during the period. Dodge & Cox lifted its position in Cigna Group by 0.7% during the second quarter. Dodge & Cox now owns 8,950,610 shares of the health services provider’s stock valued at $2,958,893,000 after purchasing an additional 60,877 shares during the period. Valeo Financial Advisors LLC boosted its holdings in Cigna Group by 86,071.1% in the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock valued at $1,148,859,000 after purchasing an additional 3,471,249 shares during the last quarter. Norges Bank acquired a new stake in Cigna Group during the 2nd quarter worth about $1,110,426,000. Finally, Parnassus Investments LLC raised its stake in shares of Cigna Group by 3.1% during the 1st quarter. Parnassus Investments LLC now owns 2,885,583 shares of the health services provider’s stock valued at $949,357,000 after buying an additional 86,602 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cigna Group

In related news, CEO David Cordani acquired 4,134 shares of the stock in a transaction on Monday, November 3rd. The shares were bought at an average price of $241.88 per share, with a total value of $999,931.92. Following the completion of the purchase, the chief executive officer 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the sale, 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 disclosure for this sale is available in the SEC filing. 0.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CI has been the subject of several analyst reports. Cowen set a $333.00 price objective on Cigna Group in a report on Monday, December 15th. Cantor Fitzgerald lowered their price objective on Cigna Group from $365.00 to $325.00 in a research report on Friday, October 31st. The Goldman Sachs Group decreased their target price on shares of Cigna Group from $370.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. Sanford C. Bernstein dropped their price target on shares of Cigna Group from $346.00 to $294.00 and set a “market perform” rating on the stock in a research report on Wednesday, November 12th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a research report on Monday, December 15th. One investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $331.83.

Cigna Group Price Performance

Shares of Cigna Group stock opened at $272.11 on Monday. 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 business has a 50 day simple moving average of $277.41 and a two-hundred day simple moving average of $292.55. The stock has a market capitalization of $72.69 billion, a P/E ratio of 12.00, a PEG ratio of 0.99 and a beta of 0.26. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The company had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. During the same quarter last year, the firm posted $7.51 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. 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 fiscal year.

Cigna Group Dividend Announcement

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