Griffin Asset Management Inc. Decreases Holdings in Cigna Group $CI

Griffin Asset Management Inc. cut its holdings in shares of Cigna Group (NYSE:CI) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,635 shares of the health services provider’s stock after selling 100 shares during the quarter. Griffin Asset Management Inc.’s holdings in Cigna Group were worth $2,193,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CI. Flaharty Asset Management LLC purchased a new position in shares of Cigna Group during the first quarter worth approximately $28,000. 1248 Management LLC purchased a new position in shares of Cigna Group during the first quarter worth approximately $29,000. Activest Wealth Management raised its stake in shares of Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after acquiring an additional 72 shares in the last quarter. Retirement Wealth Solutions LLC raised its stake in shares of Cigna Group by 74.1% during the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after acquiring an additional 43 shares in the last quarter. Finally, Saudi Central Bank purchased a new position in shares of Cigna Group during the first quarter worth approximately $36,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the business’s stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the sale, the insider owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the sale, the insider owned 51,182 shares in the company, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

CI has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cigna Group in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Truist Financial set a $375.00 target price on shares of Cigna Group in a research note on Tuesday, September 2nd. Robert W. Baird set a $372.00 target price on shares of Cigna Group in a research note on Thursday, August 14th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $365.00 target price on shares of Cigna Group in a research note on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $372.69.

Cigna Group Stock Performance

NYSE:CI opened at $301.00 on Monday. The stock has a market cap of $80.35 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.88 and a beta of 0.45. The firm’s fifty day simple moving average is $294.68 and its 200 day simple moving average is $309.12. Cigna Group has a twelve month low of $256.89 and a twelve month high of $358.88. 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 released its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter 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, research analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group’s payout ratio is 32.97%.

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.