Clark Capital Management Group Inc. Makes New Investment in Cigna Group $CI

Key Points

• Clark Capital Management Group Inc. has acquired a new stake in Cigna Group, purchasing 162,366 shares valued at approximately $53.4 million during the first quarter.
• Cigna Group recently reported $7.20 earnings per share for the quarter, surpassing analysts' expectations and showing an 11% increase in revenue year-over-year.
• The firm declared a quarterly dividend of $1.51, reflecting a $6.04 annualized yield, with a payout ratio of 32.97%.

Clark Capital Management Group Inc. purchased a new position in Cigna Group (NYSE:CI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 162,366 shares of the health services provider's stock, valued at approximately $53,418,000. Clark Capital Management Group Inc. owned about 0.06% of Cigna Group at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. 1248 Management LLC bought a new stake in Cigna Group in the 1st quarter worth about $29,000. Activest Wealth Management increased its holdings in Cigna Group by 360.0% in 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. Putney Financial Group LLC bought a new stake in Cigna Group in the 4th quarter worth about $36,000. Saudi Central Bank bought a new stake in Cigna Group in the 1st quarter worth about $36,000. Finally, Evermay Wealth Management LLC increased its holdings in Cigna Group by 58.6% in the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

CI has been the subject of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $365.00 price target on shares of Cigna Group in a research note on Tuesday, August 26th. Truist Financial set a $375.00 price target on Cigna Group in a research note on Tuesday, September 2nd. Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. 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, TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Cigna Group currently has an average rating of "Buy" and a consensus price target of $374.76.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.70% of the company's stock.

Cigna Group Trading Up 1.2%

Cigna Group stock traded up $3.50 during mid-day trading on Tuesday, hitting $304.39. The company's stock had a trading volume of 493,712 shares, compared to its average volume of 1,818,929. Cigna Group has a one year low of $256.89 and a one year high of $370.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50 day moving average of $297.09 and a 200-day moving average of $312.18. The stock has a market cap of $81.25 billion, a PE ratio of 16.63, a P/E/G ratio of 0.89 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The business had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter in the prior year, the company earned $6.72 EPS. The business's revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts anticipate that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is currently 32.97%.

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.