Summit X LLC Purchases 1,655 Shares of Cigna Group $CI

Summit X LLC boosted its position in Cigna Group (NYSE:CI) by 77.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,791 shares of the health services provider’s stock after acquiring an additional 1,655 shares during the period. Summit X LLC’s holdings in Cigna Group were worth $1,253,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. Flaharty Asset Management LLC acquired a new stake in shares of Cigna Group during the 1st quarter worth approximately $28,000. 1248 Management LLC bought a new position in Cigna Group in the first quarter valued at approximately $29,000. Solstein Capital LLC acquired a new stake in Cigna Group during the 2nd quarter worth $29,000. Activest Wealth Management grew its holdings in Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after acquiring an additional 72 shares during the period. Finally, Chilton Capital Management LLC acquired a new position in shares of Cigna Group in the 2nd quarter valued at $30,000. 86.99% of the stock is owned by institutional investors.

Cigna Group Trading Up 3.2%

Shares of NYSE:CI opened at $264.54 on Friday. The firm has a market cap of $70.66 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 0.88 and a beta of 0.44. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00. The company’s fifty day simple moving average is $293.24 and its 200 day simple moving average is $303.54. 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 announced 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. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $69.57 billion during the quarter, compared to analyst estimates of $66.40 billion. During the same period in the prior year, the business earned $7.51 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. 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 declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.3%. Cigna Group’s dividend payout ratio is 26.64%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Guggenheim dropped their price objective on Cigna Group from $350.00 to $309.00 in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Cigna Group in a research note on Wednesday, October 8th. Wolfe Research decreased their price objective on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a report on Wednesday, October 15th. Jefferies Financial Group reiterated a “buy” rating and issued a $310.00 target price on shares of Cigna Group in a report on Monday, November 3rd. Finally, Barclays lowered their price objective on shares of Cigna Group from $383.00 to $300.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cigna Group has an average rating of “Moderate Buy” and a consensus target price of $339.73.

Insider Transactions at Cigna Group

In other Cigna Group news, CEO David Cordani purchased 4,134 shares of the stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction dated 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 $7,694,400. The trade was a 52.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.70% of the company’s stock.

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.