Harbour Investments Inc. increased its position in Cigna Group (NYSE:CI – Free Report) by 12.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 800 shares of the health services provider’s stock after acquiring an additional 86 shares during the period. Harbour Investments Inc.’s holdings in Cigna Group were worth $265,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in CI. Brighton Jones LLC raised its holdings in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after acquiring an additional 318 shares during the last quarter. GAMMA Investing LLC raised its holdings in Cigna Group by 79.0% in the 1st quarter. GAMMA Investing LLC now owns 5,394 shares of the health services provider’s stock worth $1,775,000 after acquiring an additional 2,381 shares during the last quarter. Continuum Advisory LLC raised its stake in Cigna Group by 23.7% during the 1st quarter. Continuum Advisory LLC now owns 334 shares of the health services provider’s stock valued at $110,000 after buying an additional 64 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Cigna Group by 5.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 31,635 shares of the health services provider’s stock valued at $10,408,000 after buying an additional 1,737 shares during the last quarter. Finally, Eagle Strategies LLC raised its stake in Cigna Group by 20.3% during the 1st quarter. Eagle Strategies LLC now owns 1,173 shares of the health services provider’s stock valued at $386,000 after buying an additional 198 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on CI. 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. The Goldman Sachs Group began coverage on shares of Cigna Group in a research note on Tuesday, October 14th. They set a “buy” rating and a $370.00 target price for the company. Truist Financial set a $375.00 target price on shares of Cigna Group in a research note on Tuesday, September 2nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $371.00 target price on shares of Cigna Group in a research note on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. Two equities research 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.89.
Cigna Group Trading Up 0.2%
Shares of CI stock opened at $307.42 on Wednesday. Cigna Group has a 1 year low of $256.89 and a 1 year high of $350.00. The firm has a fifty day moving average price of $298.40 and a 200-day moving average price of $307.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $82.06 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.90 and a beta of 0.45.
Cigna Group (NYSE:CI – Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts predict that Cigna Group will post 29.77 earnings per share for the current year.
Insider Buying and Selling at Cigna Group
In related news, insider Nicole S. Jones sold 28,526 shares of the company’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the completion of the transaction, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
About Cigna Group
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.
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