Rafferty Asset Management LLC Has $8.34 Million Stock Holdings in Cigna Group $CI

Key Points

• Rafferty Asset Management LLC reduced its position in Cigna Group by 19.6%, holding approximately $8.34 million worth of shares after selling 6,199 shares during the first quarter.
• Cigna Group recently reported $7.20 EPS in its latest earnings, exceeding analysts' expectations, with a revenue increase of 11.0% year-over-year.
• The company declared a quarterly dividend of $1.51 per share, which translates to an annualized yield of 2.0% based on current share prices.

Rafferty Asset Management LLC lowered its holdings in Cigna Group (NYSE:CI - Free Report) by 19.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,352 shares of the health services provider's stock after selling 6,199 shares during the period. Rafferty Asset Management LLC's holdings in Cigna Group were worth $8,341,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Two Sigma Investments LP grew its stake in shares of Cigna Group by 32.6% in the 4th quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after purchasing an additional 188,235 shares during the last quarter. Humankind Investments LLC grew its stake in shares of Cigna Group by 12.1% in the 4th quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after purchasing an additional 571 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Cigna Group in the 1st quarter worth approximately $123,000. SBI Securities Co. Ltd. grew its stake in shares of Cigna Group by 18.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 398 shares of the health services provider's stock worth $131,000 after purchasing an additional 63 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in shares of Cigna Group by 2.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 113,584 shares of the health services provider's stock worth $37,369,000 after purchasing an additional 2,614 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $300.00, for a total value of $8,557,800.00. Following the sale, the insider directly owned 25,648 shares in the company, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.70% of the stock is owned by company insiders.

Cigna Group Trading Down 0.1%

Shares of CI stock opened at $300.58 on Wednesday. Cigna Group has a 1 year low of $256.89 and a 1 year high of $370.83. The firm's fifty day simple moving average is $298.92 and its 200 day simple moving average is $311.91. The firm has a market capitalization of $80.23 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 0.88 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.

Cigna Group (NYSE:CI - Get Free Report) last announced its 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. The business had revenue of $67.13 billion for the quarter, compared to analyst estimates of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. Cigna Group's revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, sell-side analysts predict that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on CI shares. Wells Fargo & Company lowered their price objective on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 14th. TD Cowen upgraded shares of Cigna Group to a "strong-buy" rating in a report on Monday, June 23rd. Guggenheim restated a "buy" rating and set a $350.00 price target (down previously from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Deutsche Bank Aktiengesellschaft set a $415.00 price target on shares of Cigna Group and gave the company a "buy" rating in a report on Tuesday, August 5th. Finally, Barclays cut their price target on shares of Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $374.82.

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.