Provenance Wealth Advisors LLC boosted its holdings in Cigna Group (NYSE:CI – Free Report) by 198.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,618 shares of the health services provider’s stock after purchasing an additional 3,069 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Cigna Group were worth $1,255,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Osbon Capital Management LLC acquired a new stake in shares of Cigna Group during the second quarter worth $26,000. Putney Financial Group LLC acquired a new position in shares of Cigna Group in the 3rd quarter valued at about $27,000. Cedar Mountain Advisors LLC boosted its holdings in shares of Cigna Group by 161.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock valued at $29,000 after buying an additional 68 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Cigna Group during the 2nd quarter valued at about $29,000. Finally, Fiduciary Financial Advisors bought a new stake in shares of Cigna Group during the 2nd quarter valued at about $29,000. Institutional investors own 86.99% of the company’s stock.
Insider Buying and Selling at Cigna Group
In other news, insider Nicole Jones sold 2,677 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the sale, the insider owned 25,880 shares in the company, valued at $7,236,306.80. This represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the transaction, the insider directly owned 5,053 shares of the company’s stock, valued at $1,435,304.65. This represents a 10.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.
Cigna Group Stock Performance
Shares of NYSE CI opened at $306.01 on Thursday. The stock has a fifty day moving average price of $285.07 and a two-hundred day moving average price of $281.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $80.86 billion, a P/E ratio of 12.66, a PEG ratio of 1.00 and a beta of 0.25. Cigna Group has a 1 year low of $255.53 and a 1 year high of $316.27.
Cigna Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Thursday, December 3rd will be issued a $1.56 dividend. The ex-dividend date is Thursday, December 3rd. This represents a $6.24 annualized dividend and a dividend yield of 2.0%. Cigna Group’s dividend payout ratio is 25.82%.
Key Cigna Group News
Here are the key news stories impacting Cigna Group this week:
- Positive Sentiment: Cigna rose alongside Elevance Health as CVS fell sharply following its proposed breakup plan. The relative strength may indicate investors favored Cigna and other peers amid the sector reaction, though the reports do not identify a direct benefit to Cigna from CVS’s plan. CVS Tumbles 12% on Plan to Split Into Two Companies Despite Earnings Beat; Elevance Health Rises 4%, Cigna Climbs 3%
- Neutral Sentiment: Cigna’s gains since its Investor Day have put the focus on whether Thursday’s earnings report can sustain momentum. Analysts expect adjusted third-quarter EPS of $7.52, versus $7.83 a year earlier. Cigna Stock Has Gained Since Investor Day. Earnings Are Next.
- Negative Sentiment: Expectations for slower earnings growth pose a risk: pharmacy and premium growth may lift revenue, but lower Evernorth profits and higher medical costs could weigh on results. Investors will watch whether those headwinds are reflected in Cigna’s outlook. Can Pharmacy Growth Offset Evernorth’s Profit Decline in Cigna’s Q3?
Analysts Set New Price Targets
Several research firms recently weighed in on CI. Wall Street Zen lowered shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Saturday, October 31st. Wells Fargo & Company lifted their target price on Cigna Group from $305.00 to $307.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Evercore began coverage on Cigna Group in a report on Wednesday, September 9th. They set an “in-line” rating and a $290.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a research report on Thursday, August 27th. Finally, Barclays increased their price target on Cigna Group from $304.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Friday, July 31st. Fourteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $336.40.
Check Out Our Latest Report on Cigna Group
Cigna Group Profile
The Cigna Group (NYSE: CI) is a global health services company that provides insurance coverage, health care benefits and related services. Its operations are primarily organized through Cigna Healthcare, which offers medical, pharmacy, dental, behavioral health and other benefit programs to employers, government organizations and individuals, primarily in the United States.
The company also operates Evernorth Health Services, a health services platform that includes pharmacy benefit management, specialty pharmacy, care management and health-care delivery capabilities.
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