Moran Wealth Management LLC Trims Stock Holdings in Cigna Group $CI

Moran Wealth Management LLC decreased its holdings in shares of Cigna Group (NYSE:CI) by 69.0% during the third quarter, HoldingsChannel reports. The fund owned 15,153 shares of the health services provider’s stock after selling 33,693 shares during the quarter. Moran Wealth Management LLC’s holdings in Cigna Group were worth $4,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Flaharty Asset Management LLC bought a new stake in shares of Cigna Group during the 1st quarter valued at $28,000. Solstein Capital LLC bought a new stake in shares of Cigna Group during the second quarter valued at about $29,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Cigna Group by 119.5% in the third quarter. Harbor Capital Advisors Inc. now owns 90 shares of the health services provider’s stock worth $26,000 after buying an additional 49 shares in the last quarter. Chilton Capital Management LLC bought a new position in shares of Cigna Group in the second quarter valued at approximately $30,000. Finally, Princeton Global Asset Management LLC increased its holdings in Cigna Group by 115.6% during the 2nd quarter. Princeton Global Asset Management LLC now owns 97 shares of the health services provider’s stock worth $32,000 after acquiring an additional 52 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cigna Group

In other Cigna Group news, CEO David Cordani bought 4,134 shares of Cigna Group stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $241.88 per share, with a total value of $999,931.92. Following the transaction, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CI shares. Wolfe Research cut their price target 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. Raymond James Financial restated a “strong-buy” rating on shares of Cigna Group in a research report on Monday, November 3rd. Wall Street Zen upgraded Cigna Group from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. Jefferies Financial Group reiterated a “buy” rating and set a $310.00 price target on shares of Cigna Group in a research report on Monday, November 3rd. Finally, Barclays boosted their price objective on Cigna Group from $300.00 to $305.00 and gave the stock an “overweight” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $333.04.

Cigna Group Price Performance

CI stock opened at $283.97 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. The firm has a 50-day moving average of $271.62 and a 200 day moving average of $289.39. The company has a market cap of $75.86 billion, a P/E ratio of 12.53, a PEG ratio of 0.98 and a beta of 0.26.

Cigna Group (NYSE:CI) last posted 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 return on equity of 18.80% and a net margin of 2.29%.The firm had revenue of $69.57 billion for the quarter, compared to the consensus estimate of $66.40 billion. During the same quarter in the prior year, the business earned $7.51 EPS. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.1%. Cigna Group’s dividend payout ratio (DPR) is currently 26.64%.

About Cigna Group

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.