AlphaQuest LLC Buys 829 Shares of Cigna Group $CI

Key Points

• AlphaQuest LLC increased its stake in Cigna Group by 61.4%, acquiring 829 shares in the first quarter, bringing their total holdings to 2,179 shares worth approximately $717,000.
• Cigna Group reported $7.20 earnings per share for the recent quarter, exceeding analysts' expectations, and its revenue reached $67.13 billion, marking an 11% year-over-year increase.
• The company declared a quarterly dividend of $1.51 per share, with an annualized yield of 2.0%, scheduled for payment on September 18th to shareholders of record on September 4th.

AlphaQuest LLC boosted its stake in Cigna Group (NYSE:CI - Free Report) by 61.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,179 shares of the health services provider's stock after buying an additional 829 shares during the period. AlphaQuest LLC's holdings in Cigna Group were worth $717,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CI. Nuveen LLC purchased a new stake in Cigna Group in the first quarter worth about $727,905,000. GAMMA Investing LLC increased its stake in shares of Cigna Group by 58,799.0% during the first quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock valued at $583,852,000 after purchasing an additional 1,771,613 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cigna Group by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider's stock valued at $3,966,690,000 after purchasing an additional 1,094,327 shares in the last quarter. GQG Partners LLC increased its stake in shares of Cigna Group by 21.5% during 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 in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of Cigna Group by 278.0% during the fourth quarter. Two Sigma Advisers LP now owns 816,200 shares of the health services provider's stock valued at $225,385,000 after purchasing an additional 600,300 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Cigna Group Price Performance

Shares of CI traded down $0.97 during trading hours on Thursday, reaching $298.98. 1,949,041 shares of the stock traded hands, compared to its average volume of 1,842,205. 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 52-week low of $256.89 and a 52-week high of $370.83. The company's 50-day moving average price is $300.11 and its two-hundred day moving average price is $311.63. The company has a market cap of $79.81 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 0.88 and a beta of 0.47.

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. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter in the previous year, the company earned $6.72 EPS. Cigna Group'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. On average, analysts anticipate 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. Investors of record on Thursday, September 4th will be paid a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group's payout ratio is 32.97%.

Insider Buying and Selling at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of Cigna Group 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 transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CI shares. Wells Fargo & Company decreased their target price on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research note on Thursday, August 14th. Truist Financial raised their target price on shares of Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Guggenheim reissued a "buy" rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Royal Bank Of Canada reissued an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Robert W. Baird set a $372.00 price target on shares of Cigna Group in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $374.82.

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.