Smartleaf Asset Management LLC Increases Stock Position in Cigna Group $CI

Key Points

• Smartleaf Asset Management LLC increased its stake in Cigna Group by 59.0%, owning 3,672 shares valued at approximately $1.19 million after a recent purchase.
• Cigna Group exceeded earnings expectations with an EPS of $7.20 against a consensus estimate of $7.15 and reported revenue of $67.13 billion for the quarter.
• The company declared a quarterly dividend of $1.51, scheduled for payment on September 18th, representing a 2.0% annualized dividend yield.

Smartleaf Asset Management LLC boosted its position in shares of Cigna Group (NYSE:CI - Free Report) by 59.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,672 shares of the health services provider's stock after purchasing an additional 1,363 shares during the quarter. Smartleaf Asset Management LLC's holdings in Cigna Group were worth $1,194,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Two Sigma Investments LP grew its position in Cigna Group by 32.6% during the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after purchasing an additional 188,235 shares during the last quarter. Humankind Investments LLC boosted its holdings in shares of Cigna Group by 12.1% during the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after acquiring an additional 571 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Cigna Group during the 1st quarter valued at about $123,000. SBI Securities Co. Ltd. boosted its holdings in shares of Cigna Group by 18.8% during the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock valued at $131,000 after acquiring an additional 63 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Cigna Group by 2.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 113,584 shares of the health services provider's stock valued at $37,369,000 after acquiring an additional 2,614 shares during the last quarter. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CI has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped 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 report on Thursday, August 14th. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Piper Sandler raised their price target on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Morgan Stanley raised their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Two research 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.com, the company has an average rating of "Buy" and a consensus target price of $374.82.

Insider Transactions at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares of the company's stock, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.70% of the company's stock.

Cigna Group Stock Performance

Shares of NYSE:CI traded down $0.38 during mid-day trading on Tuesday, reaching $300.38. 2,487,036 shares of the company traded hands, compared to its average volume of 2,118,207. The company's 50 day moving average price is $300.40 and its 200-day moving average price is $311.71. The firm has a market cap of $80.18 billion, a PE ratio of 16.40, a PEG ratio of 0.88 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 has a 52 week low of $256.89 and a 52 week high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The firm's revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the business earned $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities analysts expect that Cigna Group will post 29.77 EPS for the current fiscal 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 issued a $1.51 dividend. The ex-dividend date of this dividend 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%.

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.