Bridges Investment Management Inc. Has $662,000 Stock Position in Cigna Group $CI

Bridges Investment Management Inc. lifted its stake in Cigna Group (NYSE:CI) by 7.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,004 shares of the health services provider’s stock after acquiring an additional 142 shares during the period. Bridges Investment Management Inc.’s holdings in Cigna Group were worth $662,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Flaharty Asset Management LLC acquired a new stake in Cigna Group during the first quarter worth $28,000. 1248 Management LLC acquired a new stake in Cigna Group during the first quarter worth $29,000. Activest Wealth Management boosted its stake 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 in the last quarter. Retirement Wealth Solutions LLC boosted its stake 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 in the last quarter. Finally, Saudi Central Bank acquired a new stake in Cigna Group during the first quarter worth $36,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Truist Financial set a $375.00 price target on shares of Cigna Group in a research note on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Guggenheim restated a “buy” rating and issued a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Cigna Group in a research note on Wednesday, October 8th. Finally, Barclays boosted their target price on shares of Cigna Group from $354.00 to $383.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $369.89.

Insider Activity

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the sale, the insider directly owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 51,182 shares of the company’s stock, valued at $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Cigna Group Stock Performance

Cigna Group stock opened at $290.97 on Friday. The stock has a 50-day simple moving average of $296.78 and a 200 day simple moving average of $308.51. 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 has a 12-month low of $256.89 and a 12-month high of $358.72. The stock has a market capitalization of $77.67 billion, a price-to-earnings ratio of 15.88, a P/E/G ratio of 0.86 and a beta of 0.45.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. During the same period in the previous year, the business posted $6.72 earnings per share. The firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group’s payout ratio is currently 32.97%.

Cigna Group 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.