Voleon Capital Management LP Has $7.70 Million Position in Cigna Group $CI

Key Points

• Voleon Capital Management LP increased its stake in Cigna Group by 23.4%, owning 23,410 shares valued at $7.7 million after purchasing 4,444 additional shares.
• Cigna Group's latest quarterly earnings exceeded expectations, reporting $7.20 EPS and $67.13 billion in revenue, which is an 11% year-over-year increase.
• The company announced a quarterly dividend of $1.51 per share, reflecting a dividend yield of 2.0% and a payout ratio of 32.97%.

Voleon Capital Management LP increased its position in shares of Cigna Group (NYSE:CI - Free Report) by 23.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,410 shares of the health services provider's stock after acquiring an additional 4,444 shares during the quarter. Voleon Capital Management LP's holdings in Cigna Group were worth $7,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CI. Kestra Investment Management LLC grew its holdings in shares of Cigna Group by 36.2% in the 1st quarter. Kestra Investment Management LLC now owns 4,491 shares of the health services provider's stock valued at $1,478,000 after buying an additional 1,194 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Cigna Group in the 1st quarter valued at $431,000. UniSuper Management Pty Ltd grew its holdings in shares of Cigna Group by 2.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 19,609 shares of the health services provider's stock valued at $6,451,000 after buying an additional 464 shares during the period. Sheridan Capital Management LLC acquired a new position in shares of Cigna Group in the 1st quarter valued at $200,000. Finally, New England Asset Management Inc. grew its holdings in shares of Cigna Group by 22.1% in the 1st quarter. New England Asset Management Inc. now owns 23,000 shares of the health services provider's stock valued at $7,567,000 after buying an additional 4,165 shares during the period. 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. 1,443,759 shares of the company's stock were exchanged, compared to its average volume of 1,819,749. The firm has a 50-day moving average price of $296.08 and a 200-day moving average price of $312.04. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The company has a market cap of $81.66 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 0.88 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, topping 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 firm had revenue of $67.13 billion for the quarter, compared to analysts' expectations of $62.61 billion. During the same period in the previous year, the firm 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, analysts expect that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm 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 dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.0%. Cigna Group's payout ratio is 32.97%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CI shares. Wells Fargo & Company decreased their price target on shares of Cigna Group from $341.00 to $340.00 and set an "equal weight" rating for the company in a report on Thursday, August 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $365.00 price objective on shares of Cigna Group in a research report on Tuesday, August 26th. Robert W. Baird set a $372.00 price objective on shares of Cigna Group in a report on Thursday, August 14th. Truist Financial set a $375.00 target price on Cigna Group in a report on Tuesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 price target on Cigna Group and gave the company a "buy" rating in a research note on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Cigna Group currently has a consensus rating of "Buy" and an average price target of $374.76.

Insider Buying and Selling

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

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.