Simplicity Wealth LLC Boosts Stock Position in Cigna Group $CI

Key Points

• Simplicity Wealth LLC increased its stake in Cigna Group by 299.0% in the second quarter, owning 3,200 shares valued at over $1 million.
• Cigna Group reported $7.20 EPS for the last quarter, exceeding estimates, with a revenue of $67.13 billion, a significant increase of 11.0% year-over-year.
• The company declared a quarterly dividend of $1.51 per share, yielding an annualized dividend of 2.0%, with a payout ratio of around 32.97%.

Simplicity Wealth LLC grew its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 299.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,200 shares of the health services provider's stock after buying an additional 2,398 shares during the period. Simplicity Wealth LLC's holdings in Cigna Group were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. Flaharty Asset Management LLC purchased a new position in Cigna Group in the first quarter valued at approximately $28,000. 1248 Management LLC purchased a new stake in shares of Cigna Group during the 1st quarter worth approximately $29,000. Activest Wealth Management boosted its holdings in shares of Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider's stock valued at $30,000 after buying an additional 72 shares in the last quarter. Retirement Wealth Solutions LLC grew its position in shares of Cigna Group by 74.1% in the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider's stock valued at $33,000 after buying an additional 43 shares during the last quarter. Finally, Saudi Central Bank acquired a new stake in Cigna Group during the 1st quarter worth $36,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Cigna Group Trading Down 2.5%

Shares of Cigna Group stock opened at $303.30 on Tuesday. Cigna Group has a fifty-two week low of $256.89 and a fifty-two week high of $358.88. The business's fifty day moving average is $292.64 and its two-hundred day moving average is $309.56. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm has a market cap of $80.96 billion, a PE ratio of 16.56, a P/E/G ratio of 0.91 and a beta of 0.45.

Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share 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 business's quarterly revenue was up 11.0% on a year-over-year basis. During the same period last year, the company posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Dividend Announcement

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

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the stock in a transaction that occurred 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 completion of the sale, the insider owned 25,648 shares of the company's stock, valued at $7,694,400. This trade represents a 52.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CI. Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a report on Friday. Wells Fargo & Company decreased their target price on Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a research report on Thursday, August 14th. Truist Financial set a $375.00 price target on Cigna Group in a research report on Tuesday, September 2nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $371.00 price objective on shares of Cigna Group in a report on Thursday, June 26th. Finally, Guggenheim reissued 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 equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Cigna Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $371.81.

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.

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