Spire Wealth Management Has $1.05 Million Stake in Cigna Group $CI

Spire Wealth Management lowered its stake in Cigna Group (NYSE:CI) by 32.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,173 shares of the health services provider’s stock after selling 1,557 shares during the period. Spire Wealth Management’s holdings in Cigna Group were worth $1,049,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Flaharty Asset Management LLC bought a new position in Cigna Group in the 1st quarter valued at $28,000. 1248 Management LLC bought a new position in Cigna Group in the first quarter valued at about $29,000. Solstein Capital LLC bought a new position in Cigna Group in the second quarter valued at about $29,000. Chilton Capital Management LLC acquired a new stake in Cigna Group in the second quarter worth about $30,000. Finally, Activest Wealth Management raised its holdings in Cigna Group by 360.0% during the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CI. Wall Street Zen lowered shares of Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Guggenheim reaffirmed a “buy” rating and issued a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $365.00 target price on shares of Cigna Group in a report on Tuesday, August 26th. 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. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $355.00 price objective on shares of Cigna Group in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Cigna Group currently has an average rating of “Moderate Buy” and an average target price of $363.33.

Cigna Group Trading Down 1.0%

NYSE CI opened at $244.67 on Friday. Cigna Group has a one year low of $240.67 and a one year high of $350.00. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $65.31 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.88 and a beta of 0.45. The stock’s 50-day moving average is $297.19 and its 200-day moving average is $306.12.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.64 by $0.19. The business had revenue of $69.57 billion during the quarter, compared to analyst estimates of $66.40 billion. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.Cigna Group’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $7.51 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Thursday, December 4th. Cigna Group’s dividend payout ratio (DPR) is presently 32.97%.

Insider Buying and Selling at Cigna Group

In related news, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the transaction, the insider directly owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This represents a 9.49% decrease in their position. The sale 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 stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the transaction, the insider owned 25,648 shares of the company’s stock, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.70% of the company’s stock.

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.