Perpetual Ltd Grows Stake in Cigna Group $CI

Key Points

• Perpetual Ltd increased its stake in Cigna Group by 57.3%, acquiring an additional 1,117 shares and bringing its total holdings to 3,065 shares valued at approximately $1,013,000.
• Cigna Group's shares had an impressive earnings report, with an EPS of $7.20 for the last quarter, exceeding expectations and demonstrating a 11% revenue increase year-over-year.
• The company declared a quarterly dividend of $1.51 per share, resulting in an annualized dividend yield of 2.1%.

Perpetual Ltd grew its position in shares of Cigna Group (NYSE:CI - Free Report) by 57.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,065 shares of the health services provider's stock after purchasing an additional 1,117 shares during the period. Perpetual Ltd's holdings in Cigna Group were worth $1,013,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Flaharty Asset Management LLC bought a new stake in Cigna Group during the first quarter worth about $28,000. 1248 Management LLC bought a new stake in Cigna Group during the first quarter worth about $29,000. Activest Wealth Management lifted its stake in Cigna Group by 360.0% during the first quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock worth $30,000 after purchasing an additional 72 shares during the last quarter. Retirement Wealth Solutions LLC lifted its stake in Cigna Group by 74.1% during the second quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider's stock worth $33,000 after purchasing an additional 43 shares during the last quarter. Finally, Putney Financial Group LLC bought a new stake in Cigna Group during the fourth quarter worth about $36,000. Institutional investors own 86.99% of the company's stock.

Cigna Group Price Performance

Cigna Group stock traded up $1.12 during mid-day trading on Tuesday, hitting $289.74. The stock had a trading volume of 585,222 shares, compared to its average volume of 1,798,641. The firm has a market capitalization of $77.34 billion, a P/E ratio of 15.84, a P/E/G ratio of 0.85 and a beta of 0.48. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm's 50 day moving average is $293.71 and its 200 day moving average is $311.30. Cigna Group has a one year low of $256.89 and a one year high of $358.88.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating 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 the consensus estimate of $62.61 billion. During the same quarter in the prior year, the firm earned $6.72 EPS. The business's revenue was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, sell-side analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, September 4th. Cigna Group's dividend payout ratio (DPR) is presently 32.97%.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction on Friday, August 15th. The shares were sold at an average price of $300.00, for a total value of $8,557,800.00. Following the transaction, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Guggenheim reiterated a "buy" rating and issued a $350.00 price objective (down previously from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $365.00 price objective on shares of Cigna Group in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company reduced their price target on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $371.81.

Cigna Group 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.