Steamboat Capital Partners LLC Boosts Stock Position in Cigna Group $CI

Key Points

• Steamboat Capital Partners LLC increased its stake in Cigna Group by 200.7%, acquiring an additional 20,030 shares during the first quarter, bringing its total to 30,010 shares valued at approximately $9.87 million.
• Analyst ratings for Cigna Group are optimistic, with a consensus average rating of "Buy" and an average target price of $374.82.
• Cigna Group recently announced a quarterly dividend of $1.51 per share, representing an annual yield of 2.0%.

Steamboat Capital Partners LLC increased its stake in shares of Cigna Group (NYSE:CI - Free Report) by 200.7% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 30,010 shares of the health services provider's stock after acquiring an additional 20,030 shares during the period. Cigna Group makes up approximately 3.0% of Steamboat Capital Partners LLC's holdings, making the stock its 13th largest holding. Steamboat Capital Partners LLC's holdings in Cigna Group were worth $9,873,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Cigna Group by 9.3% in the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after purchasing an additional 318 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Cigna Group by 0.4% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 57,003 shares of the health services provider's stock valued at $15,741,000 after purchasing an additional 225 shares during the last quarter. Meiji Yasuda Life Insurance Co raised its position in Cigna Group by 3.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 1,166 shares of the health services provider's stock valued at $322,000 after buying an additional 40 shares during the period. Gallagher Fiduciary Advisors LLC grew its stake in shares of Cigna Group by 16.6% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 1,142 shares of the health services provider's stock valued at $315,000 after buying an additional 163 shares in the last quarter. Finally, AlTi Global Inc. raised its holdings in Cigna Group by 20.0% during the fourth quarter. AlTi Global Inc. now owns 859 shares of the health services provider's stock valued at $241,000 after buying an additional 143 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on CI. Robert W. Baird set a $372.00 price objective on Cigna Group in a research report on Thursday, August 14th. 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. TD Cowen upgraded Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Guggenheim reiterated a "buy" rating and set a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Finally, Barclays decreased their price target on Cigna Group from $385.00 to $354.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $373.06.

Cigna Group Stock Down 0.2%

Cigna Group stock traded down $0.53 during midday trading on Wednesday, reaching $300.19. The stock had a trading volume of 1,512,564 shares, compared to its average volume of 1,677,306. Cigna Group has a 12 month low of $256.89 and a 12 month high of $370.83. The company has a market capitalization of $80.13 billion, a P/E ratio of 16.39, a PEG ratio of 0.88 and a beta of 0.48. The company has a fifty day moving average price of $298.92 and a two-hundred day moving average price of $311.91. 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 issued its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping analysts' consensus estimates of $7.15 by $0.05. Cigna Group had a return on equity of 18.80% and a net margin of 1.92%.The firm had revenue of $67.13 billion during the quarter, compared to analyst estimates of $62.61 billion. During the same period in the previous year, the company posted $6.72 EPS. The company's revenue for the quarter was up 11.0% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, equities analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th will be given a dividend of $1.51 per share. 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 (DPR) is currently 32.97%.

Insider Buying and Selling at Cigna Group

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

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.