Clough Capital Partners L P Buys New Position in Cigna Group $CI

Key Points

• Clough Capital Partners L P has acquired a new position in Cigna Group, purchasing 41,240 shares valued at approximately $13.57 million, making Cigna about 1.7% of their holdings.
• Cigna Group reported $7.20 EPS for the last quarter, exceeding estimates, with revenue of $67.13 billion, up 11% year-over-year.
• The company declared a quarterly dividend of $1.51 per share, scheduled for payment on September 18th, with an annualized yield of 2.0%.

Clough Capital Partners L P purchased a new position in shares of Cigna Group (NYSE:CI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 41,240 shares of the health services provider's stock, valued at approximately $13,568,000. Cigna Group comprises 1.7% of Clough Capital Partners L P's investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Evermay Wealth Management LLC raised its holdings in Cigna Group by 58.6% during the 1st quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after purchasing an additional 41 shares during the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of Cigna Group during the 1st quarter worth approximately $38,000. Wayfinding Financial LLC acquired a new stake in shares of Cigna Group during the 1st quarter worth approximately $40,000. WPG Advisers LLC acquired a new stake in shares of Cigna Group during the 1st quarter worth approximately $40,000. Finally, Putney Financial Group LLC acquired a new stake in shares of Cigna Group during the 4th quarter worth approximately $36,000. Institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CI. Guggenheim reaffirmed a "buy" rating and set a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Wells Fargo & Company reduced their price target on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Barclays reduced their price target on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating for the company in a research report on Friday, August 1st. Royal Bank Of Canada reissued an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Cowen reissued a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Two investment 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 data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $374.82.

Insider Activity at Cigna Group

In other news, insider Nicole S. Jones sold 28,526 shares of the business'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 completion of the transaction, the insider owned 25,648 shares of the company's stock, valued at approximately $7,694,400. The trade was a 52.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Cigna Group Stock Performance

Shares of NYSE CI traded down $0.29 during mid-day trading on Tuesday, reaching $300.58. 1,431,108 shares of the company's stock were exchanged, compared to its average volume of 1,838,203. The firm has a market capitalization of $80.23 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.88 and a beta of 0.48. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50-day moving average price of $299.24 and a two-hundred day moving average price of $311.99.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $62.61 billion. During the same period in the previous year, the business posted $6.72 EPS. The firm's quarterly revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a dividend yield of 2.0%. Cigna Group's payout ratio is presently 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.