Ieq Capital LLC Has $8.43 Million Position in Cigna Group $CI

Key Points

• Ieq Capital LLC has increased its stake in Cigna Group by 141.5%, raising its position to $8.43 million with a total of 25,607 shares owned.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group, resulting in a significant decrease in her ownership by 52.66%, following a transaction valued at $8.56 million.
• Cigna Group reported a quarterly earnings per share (EPS) of $7.20, beating analysts' estimates, with a revenue of $67.13 billion, marking an 11% increase year-over-year.

Ieq Capital LLC increased its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 141.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,607 shares of the health services provider's stock after buying an additional 15,002 shares during the period. Ieq Capital LLC's holdings in Cigna Group were worth $8,425,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CI. Nuveen LLC bought a new stake in shares of Cigna Group during the first quarter worth approximately $727,905,000. GAMMA Investing LLC raised 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 worth $583,852,000 after buying an additional 1,771,613 shares during the last quarter. Price T Rowe Associates Inc. MD raised 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 worth $3,966,690,000 after buying an additional 1,094,327 shares during the last quarter. GQG Partners LLC raised 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 worth $1,607,716,000 after buying an additional 865,092 shares during the last quarter. Finally, Two Sigma Advisers LP raised 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 worth $225,385,000 after buying an additional 600,300 shares during the last quarter. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts have commented on CI shares. Piper Sandler upped their target price on shares of Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $374.82.

Cigna Group Stock Up 0.8%

Shares of Cigna Group stock traded up $2.39 on Friday, hitting $301.39. The company had a trading volume of 1,588,821 shares, compared to its average volume of 1,802,228. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The stock has a 50-day moving average of $299.56 and a 200-day moving average of $311.93. The firm has a market capitalization of $80.45 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.88 and a beta of 0.48. 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 announced its earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping the consensus estimate of $7.15 by $0.05. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion during the quarter, compared to analysts' expectations of $62.61 billion. During the same quarter in the prior year, the company posted $6.72 earnings per share. The firm's revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts predict that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The firm 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 dividend of $1.51 per share. 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 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.