SCS Capital Management LLC Takes $7.25 Million Position in Cigna Group $CI

Key Points

• SCS Capital Management LLC purchased 22,024 shares of Cigna Group, valued at approximately $7.25 million, during the first quarter.
• Insider Nicole S. Jones sold 28,526 shares of Cigna Group for about $8.56 million, reducing her ownership by 52.66%.
• Cigna Group's recent quarterly earnings report showed an EPS of $7.20, surpassing estimates and marking an 11% revenue increase year-over-year.

SCS Capital Management LLC bought a new position in Cigna Group (NYSE:CI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,024 shares of the health services provider's stock, valued at approximately $7,246,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CI. Brighton Jones LLC lifted its holdings in shares of Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after acquiring an additional 318 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Cigna Group by 11.6% during the fourth quarter. Focus Partners Wealth now owns 23,808 shares of the health services provider's stock worth $6,579,000 after purchasing an additional 2,483 shares during the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Cigna Group by 184.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 20,037 shares of the health services provider's stock worth $5,533,000 after purchasing an additional 13,001 shares during the last quarter. Moore Capital Management LP bought a new stake in shares of Cigna Group during the fourth quarter worth about $16,063,000. Finally, New England Asset Management Inc. grew its holdings in shares of Cigna Group by 29.3% during the fourth quarter. New England Asset Management Inc. now owns 18,835 shares of the health services provider's stock worth $5,201,000 after purchasing an additional 4,270 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

Cigna Group Stock Up 1.2%

NYSE:CI traded up $3.49 on Thursday, hitting $305.93. The stock had a trading volume of 1,443,759 shares, compared to its average volume of 1,490,656. The business's fifty day moving average is $295.81 and its 200 day moving average is $312.08. The company has a market cap of $81.66 billion, a PE ratio of 16.70, a P/E/G ratio of 0.89 and a beta of 0.48. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 18.80% and a net margin of 1.92%.The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.72 earnings per share. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, equities research analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be issued a $1.51 dividend. 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%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CI shares. Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. Barclays raised their price objective on Cigna Group from $354.00 to $383.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research report on Monday, June 23rd. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Guggenheim restated a "buy" rating and set a $350.00 price objective (down from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Cigna Group currently has a consensus rating of "Buy" and a consensus target price of $374.76.

Insider Transactions at Cigna Group

In related news, insider Nicole S. Jones sold 28,526 shares of the firm's stock in a transaction dated 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 owned 25,648 shares of the company's stock, valued at approximately $7,694,400. This trade represents a 52.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.70% of the company's stock.

Cigna Group Company 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.