Raleigh Capital Management Inc. Acquires New Position in Cigna Group $CI

Raleigh Capital Management Inc. bought a new position in shares of Cigna Group (NYSE:CI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 845 shares of the health services provider’s stock, valued at approximately $279,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Flaharty Asset Management LLC bought a new position in shares of Cigna Group in the 1st quarter worth $28,000. 1248 Management LLC acquired a new position in Cigna Group in the first quarter valued at about $29,000. Activest Wealth Management boosted its holdings in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after buying an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC boosted its holdings in Cigna Group by 74.1% during the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after buying an additional 43 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in shares of Cigna Group during the 1st quarter worth about $36,000. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on CI. Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Truist Financial set a $375.00 target price on shares of Cigna Group in a research note on Tuesday, September 2nd. Barclays lifted their price target on shares of Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Wells Fargo & Company decreased their price target on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating for the company in a report on Thursday, August 14th. Finally, TD Cowen raised Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $371.81.

Insiders Place Their Bets

In other news, insider Nicole S. Jones sold 28,526 shares of the firm’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 transaction of $8,557,800.00. Following the completion of the transaction, the insider directly owned 25,648 shares of the company’s stock, valued at $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is currently owned by company insiders.

Cigna Group Trading Up 0.5%

Shares of NYSE:CI opened at $288.20 on Wednesday. The firm has a market cap of $76.93 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.84 and a beta of 0.48. Cigna Group has a 12 month low of $256.89 and a 12 month high of $358.88. The company’s fifty day simple moving average is $292.31 and its 200 day simple moving average is $310.15. 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 earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. During the same quarter in the prior year, the company earned $6.72 EPS. The company’s revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.1%. Cigna Group’s payout ratio is presently 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.