Lakewood Capital Management LP Takes Position in Cigna Group $CI

Key Points

• Lakewood Capital Management initiated a $117.9 million position in Cigna Group during the second quarter, making the stock its largest portfolio holding at 6.1% of assets.
• Analysts maintain a favorable outlook, with 15 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and a $339.45 price target.
• Cigna exceeded quarterly earnings expectations, reporting $7.78 in adjusted EPS and 6.7% year-over-year revenue growth. The company also declared a quarterly dividend of $1.56, equivalent to a 2.2% annual yield.

Lakewood Capital Management LP bought a new stake in Cigna Group (NYSE:CI - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 427,807 shares of the health services provider's stock, valued at approximately $117,938,000. Cigna Group makes up approximately 6.1% of Lakewood Capital Management LP's investment portfolio, making the stock its biggest position. Lakewood Capital Management LP owned 0.16% of Cigna Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilkerson Advisory Group LLC bought a new stake in Cigna Group in the 4th quarter valued at $25,000. Osbon Capital Management LLC bought a new position in shares of Cigna Group during the 2nd quarter worth about $26,000. Cedar Mountain Advisors LLC lifted its holdings in shares of Cigna Group by 161.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider's stock worth $29,000 after acquiring an additional 68 shares during the period. Johnson Financial Group Inc. bought a new stake in Cigna Group in the second quarter valued at about $29,000. Finally, Fiduciary Financial Advisors bought a new stake in Cigna Group in the second quarter valued at about $29,000. 86.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Robert W. Baird set a $362.00 price target on shares of Cigna Group in a research note on Friday, July 31st. Barclays upped their price objective on Cigna Group from $304.00 to $310.00 and gave the company an "equal weight" rating in a research note on Friday, July 31st. Sanford C. Bernstein increased their target price on Cigna Group from $371.00 to $381.00 and gave the stock an "outperform" rating in a report on Thursday, July 9th. The Goldman Sachs Group raised their target price on Cigna Group from $335.00 to $340.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada boosted their price target on Cigna Group from $333.00 to $337.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $339.45.

Insider Buying and Selling at Cigna Group

In other news, CAO Jamie G. Kates sold 899 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $298.61, for a total transaction of $268,450.39. Following the completion of the sale, the chief accounting officer owned 2,368 shares in the company, valued at $707,108.48. The trade was a 27.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 19,436 shares of the company's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $276.27, for a total value of $5,369,583.72. Following the transaction, the insider directly owned 27,256 shares in the company, valued at $7,530,015.12. This trade represents a 41.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 23,012 shares of company stock worth $6,386,550. Company insiders own 0.60% of the company's stock.

Cigna Group Stock Up 1.0%

Shares of NYSE:CI opened at $280.32 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The firm has a market cap of $74.07 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.95 and a beta of 0.29. Cigna Group has a 12 month low of $239.51 and a 12 month high of $315.47. The company's 50-day moving average price is $283.92 and its two-hundred day moving average price is $281.48.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, July 30th. The health services provider reported $7.78 earnings per share for the quarter, topping analysts' consensus estimates of $7.60 by $0.18. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The company had revenue of $70.04 billion during the quarter, compared to the consensus estimate of $70.14 billion. During the same period in the previous year, the firm posted $7.20 earnings per share. The company's revenue was up 6.7% on a year-over-year basis. Cigna Group has set its FY 2026 guidance at 30.450- EPS. As a group, research analysts forecast that Cigna Group will post 30.51 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be given a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, September 8th. Cigna Group's payout ratio is 25.82%.

About Cigna Group

Cigna Group NYSE: CI is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.

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