Algert Global LLC Buys New Shares in Cigna Group $CI

Key Points

• Algert Global LLC has invested $5.45 million in Cigna Group, acquiring 16,578 shares in the health services provider during the first quarter.
• Cigna Group reported a quarterly EPS of $7.20, surpassing the consensus estimate, with revenues totaling $67.13 billion, up 11% year-over-year.
• The company announced a quarterly dividend of $1.51, with a 2.0% dividend yield and a payout ratio of 32.97%.

Algert Global LLC purchased a new position in Cigna Group (NYSE:CI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 16,578 shares of the health services provider's stock, valued at approximately $5,454,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Family Legacy Inc. raised its position in shares of Cigna Group by 0.5% in the first quarter. Family Legacy Inc. now owns 6,497 shares of the health services provider's stock valued at $2,138,000 after buying an additional 31 shares in the last quarter. Impact Investors Inc increased its stake in Cigna Group by 1.6% in the first quarter. Impact Investors Inc now owns 1,975 shares of the health services provider's stock valued at $650,000 after acquiring an additional 31 shares during the last quarter. Mission Wealth Management LP increased its stake in Cigna Group by 1.5% in the first quarter. Mission Wealth Management LP now owns 2,101 shares of the health services provider's stock valued at $691,000 after acquiring an additional 32 shares during the last quarter. Westend Capital Management LLC grew its stake in shares of Cigna Group by 8.1% during the first quarter. Westend Capital Management LLC now owns 427 shares of the health services provider's stock worth $140,000 after buying an additional 32 shares during the last quarter. Finally, Moody National Bank Trust Division grew its stake in shares of Cigna Group by 0.7% during the first quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider's stock worth $1,509,000 after buying an additional 34 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Stock Performance

Shares of Cigna Group stock traded up $3.1890 on Friday, reaching $304.1390. 1,127,473 shares of the company traded hands, compared to its average volume of 1,847,744. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The company has a 50 day moving average of $301.16 and a 200 day moving average of $311.31. The firm has a market capitalization of $81.18 billion, a PE ratio of 16.60, a PEG ratio of 0.89 and a beta of 0.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71.

Cigna Group (NYSE:CI - Get Free Report) last released 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. The firm had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company's revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Equities analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be paid a $1.51 dividend. The ex-dividend date is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group's dividend payout ratio is currently 32.97%.

Analyst Upgrades and Downgrades

CI has been the topic of a number of research reports. Guggenheim reaffirmed a "buy" rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Cowen reiterated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company cut their price target on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 14th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Cigna Group currently has an average rating of "Buy" and a consensus price target of $374.82.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred 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 in the company, valued at $7,694,400. This represents a 52.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Cigna Group 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.