Janney Montgomery Scott LLC Boosts Holdings in Cigna Group $CI

Janney Montgomery Scott LLC boosted its holdings in shares of Cigna Group (NYSE:CI) by 3.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 35,943 shares of the health services provider’s stock after purchasing an additional 1,357 shares during the period. Janney Montgomery Scott LLC’s holdings in Cigna Group were worth $11,882,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flaharty Asset Management LLC purchased a new position in Cigna Group during the 1st quarter worth $28,000. 1248 Management LLC purchased a new position in Cigna Group during the 1st quarter worth $29,000. Activest Wealth Management grew its position 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 purchasing an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC grew its position in Cigna Group by 74.1% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Finally, Saudi Central Bank purchased a new position in Cigna Group during the 1st quarter worth $36,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Stock Up 4.8%

Shares of NYSE CI opened at $311.24 on Friday. 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 52 week low of $256.89 and a 52 week high of $358.88. The firm has a 50-day moving average price of $292.41 and a 200 day moving average price of $309.81. The stock has a market capitalization of $83.08 billion, a price-to-earnings ratio of 16.99, a price-to-earnings-growth ratio of 0.87 and a beta of 0.45.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm had revenue of $67.13 billion during the quarter, compared to analysts’ expectations of $62.61 billion. During the same quarter last year, the business earned $6.72 earnings per share. The business’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. Equities research analysts anticipate that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors 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 dividend yield of 1.9%. Cigna Group’s dividend payout ratio (DPR) is 32.97%.

Insider Activity at Cigna Group

In related news, 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 sale, the insider owned 25,648 shares in the company, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CI shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Cigna Group in a research report on Saturday, September 27th. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a research report on Thursday, August 14th. Wells Fargo & Company lowered their target price on shares of Cigna Group from $341.00 to $340.00 and set an “equal weight” rating on the stock in a report on Thursday, August 14th. Truist Financial set a $375.00 target price on shares of Cigna Group in a report on Tuesday, September 2nd. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $371.00 target price on shares of Cigna Group in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $371.81.

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.