Truist Financial Corp Buys 21,521 Shares of Cigna Group $CI

Truist Financial Corp grew its stake in shares of Cigna Group (NYSE:CI) by 46.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,904 shares of the health services provider’s stock after buying an additional 21,521 shares during the period. Truist Financial Corp’s holdings in Cigna Group were worth $22,448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CI. Brighton Jones LLC raised its position in shares of Cigna Group by 9.3% during the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock valued at $1,032,000 after buying an additional 318 shares during the last quarter. NBC Securities Inc. bought a new stake in shares of Cigna Group during the first quarter valued at approximately $123,000. Merit Financial Group LLC raised its position in shares of Cigna Group by 135.7% during the first quarter. Merit Financial Group LLC now owns 5,498 shares of the health services provider’s stock valued at $1,809,000 after buying an additional 3,165 shares during the last quarter. RFG Advisory LLC bought a new stake in shares of Cigna Group during the first quarter valued at approximately $233,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Cigna Group by 13.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 1,212 shares of the health services provider’s stock valued at $399,000 after buying an additional 144 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the topic of several research reports. Royal Bank Of Canada restated an “outperform” rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Guggenheim restated a “buy” rating and issued a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Truist Financial set a $375.00 price target on shares of Cigna Group in a research report on Tuesday, September 2nd. Barclays boosted 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. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cigna Group currently has an average rating of “Moderate Buy” and an average price target of $371.81.

Insider Activity

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider owned 25,648 shares in the company, valued at $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by company insiders.

Cigna Group Trading Up 4.8%

CI stock 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 twelve month low of $256.89 and a twelve month high of $358.88. 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. The firm’s fifty day simple moving average is $292.41 and its two-hundred day simple moving average is $309.81.

Cigna Group (NYSE:CI) last posted its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. The business had revenue of $67.13 billion for the quarter, compared to analysts’ expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, September 4th. Cigna Group’s payout ratio is 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.