Boone Capital Management LLC Decreases Stock Holdings in Cigna Group $CI
by Teresa Graham · The Cerbat GemBoone Capital Management LLC cut its position in Cigna Group (NYSE:CI – Free Report) by 49.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 35,600 shares of the health services provider’s stock after selling 35,259 shares during the quarter. Cigna Group comprises 5.0% of Boone Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Boone Capital Management LLC’s holdings in Cigna Group were worth $11,769,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Flaharty Asset Management LLC bought a new position in Cigna Group in the first quarter valued at approximately $28,000. 1248 Management LLC bought a new position in shares of Cigna Group in the 1st quarter valued at $29,000. Solstein Capital LLC acquired a new position in shares of Cigna Group during the 2nd quarter worth $29,000. Activest Wealth Management raised its holdings in shares of 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 buying an additional 72 shares in the last quarter. Finally, Chilton Capital Management LLC bought a new stake in shares of Cigna Group during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 86.99% of the company’s stock.
Cigna Group Stock Performance
Cigna Group stock opened at $274.70 on Friday. The business has a 50 day moving average of $280.44 and a 200-day moving average of $294.17. The company has a market capitalization of $73.38 billion, a P/E ratio of 12.12, a P/E/G ratio of 0.99 and a beta of 0.26. Cigna Group has a 1 year low of $239.51 and a 1 year high of $350.00. 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 (NYSE:CI – Get Free Report) 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 net margin of 2.29% and a return on equity of 18.80%. The firm had revenue of $69.57 billion for the quarter, compared to analyst estimates of $66.40 billion. During the same period in the previous year, the firm posted $7.51 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities research analysts predict that Cigna Group will post 29.77 earnings per share for the current year.
Cigna Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s dividend payout ratio (DPR) is currently 26.64%.
Insider Activity
In other Cigna Group news, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the transaction, the insider directly owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. The trade was a 9.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Cordani purchased 4,134 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $241.88 per share, with a total value of $999,931.92. Following the purchase, the chief executive officer owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. This trade represents a 2.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.70% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on CI shares. Morgan Stanley reiterated an “overweight” rating and issued a $355.00 target price on shares of Cigna Group in a research report on Friday, October 31st. Sanford C. Bernstein reduced their price target on shares of Cigna Group from $346.00 to $294.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 12th. Guggenheim reaffirmed a “buy” rating and set a $318.00 price target on shares of Cigna Group in a report on Tuesday, December 2nd. Wall Street Zen upgraded shares of Cigna Group from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Cigna Group from $415.00 to $301.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $331.77.
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.
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