Wellington Management Group LLP Acquires 35,478 Shares of Cigna Group $CI

Key Points

• Wellington Management Group LLP increased its stake in Cigna Group by 210.3% in Q1, holding 52,347 shares worth approximately $17.22 million.
• Cigna Group's quarterly earnings surpassed analyst expectations, posting $7.20 EPS against a forecast of $7.15, with revenues of $67.13 billion.
• The company announced a quarterly dividend of $1.51 per share, set to be paid on September 18th, representing an annual yield of 2.0%.

Wellington Management Group LLP increased its position in Cigna Group (NYSE:CI - Free Report) by 210.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,347 shares of the health services provider's stock after purchasing an additional 35,478 shares during the period. Wellington Management Group LLP's holdings in Cigna Group were worth $17,222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Evermay Wealth Management LLC boosted its holdings in Cigna Group by 58.6% in the first quarter. Evermay Wealth Management LLC now owns 111 shares of the health services provider's stock worth $37,000 after acquiring an additional 41 shares in the last quarter. Richardson Financial Services Inc. bought a new stake in Cigna Group in the first quarter worth $38,000. Wayfinding Financial LLC bought a new stake in Cigna Group in the first quarter worth $40,000. Putney Financial Group LLC bought a new stake in Cigna Group in the fourth quarter worth $36,000. Finally, Ameriflex Group Inc. bought a new stake in Cigna Group in the fourth quarter worth $44,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Cigna Group Stock Performance

CI stock traded up $2.39 during trading on Friday, reaching $301.39. The stock had a trading volume of 1,588,821 shares, compared to its average volume of 1,894,241. Cigna Group has a 52 week low of $256.89 and a 52 week high of $370.83. The stock's 50 day moving average is $299.56 and its two-hundred day moving average is $311.85. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The firm has a market cap of $80.45 billion, a PE ratio of 16.45, a PEG ratio of 0.88 and a beta of 0.47.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, July 31st. The health services provider reported $7.20 earnings per share for the quarter, beating 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 company had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. During the same quarter in the prior year, the company earned $6.72 earnings per share. Cigna Group's revenue 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 anticipate that Cigna Group will post 29.77 earnings per share for the current year.

Cigna Group Announces Dividend

The company also recently announced 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 of this dividend is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a yield of 2.0%. Cigna Group's dividend payout ratio is currently 32.97%.

Wall Street Analyst Weigh In

CI has been the topic of several analyst reports. Cowen reissued a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Wall Street Zen downgraded Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $371.00 price target on shares of Cigna Group in a report on Thursday, June 26th. Guggenheim reaffirmed a "buy" rating and set a $350.00 price target (down from $388.00) on shares of Cigna Group in a report on Monday, August 4th. Finally, Morgan Stanley upped their price target on Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $374.82.

Insider Buying and Selling

In other Cigna Group news, insider Nicole S. Jones sold 28,526 shares of the company's stock in a transaction dated 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 completion of the sale, the insider 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 filing with the SEC, which is available through this hyperlink. 0.70% of the stock is currently 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.