Drive Wealth Management LLC Has $413,000 Holdings in Cigna Group $CI

Drive Wealth Management LLC raised its position in Cigna Group (NYSE:CI) by 14.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,251 shares of the health services provider’s stock after purchasing an additional 160 shares during the quarter. Drive Wealth Management LLC’s holdings in Cigna Group were worth $413,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Valeo Financial Advisors LLC raised its stake in shares of Cigna Group by 86,071.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after purchasing an additional 3,471,249 shares in the last quarter. Nuveen LLC acquired a new position in Cigna Group during the first quarter worth approximately $727,905,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Cigna Group by 10.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock worth $3,966,690,000 after acquiring an additional 1,094,327 shares during the last quarter. GQG Partners LLC increased its holdings in shares of Cigna Group by 21.5% in the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock valued at $1,607,716,000 after purchasing an additional 865,092 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Cigna Group by 38.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,649,837 shares of the health services provider’s stock valued at $542,796,000 after acquiring an additional 457,052 shares during the period. Institutional investors own 86.99% of the company’s stock.

Cigna Group Stock Performance

NYSE CI opened at $307.03 on Tuesday. The company has a market cap of $81.96 billion, a P/E ratio of 16.76, a PEG ratio of 0.88 and a beta of 0.45. The company has a fifty day simple moving average of $297.87 and a 200 day simple moving average of $307.81. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 12-month low of $256.89 and a 12-month high of $350.00.

Cigna Group (NYSE:CI) last posted its earnings results 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. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The company had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. During the same quarter last year, the company earned $6.72 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts predict that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on CI shares. Wells Fargo & Company lifted their price objective on shares of Cigna Group from $340.00 to $354.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a “buy” rating in a research note on Tuesday, August 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cigna Group in a report on Wednesday, October 8th. Royal Bank Of Canada reissued an “outperform” rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $369.89.

Insider Activity at Cigna Group

In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of the business’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the transaction, the insider owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. The trade was a 9.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole S. Jones sold 28,526 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.70% of the stock is owned by company insiders.

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.