Woodline Partners LP Buys Shares of 80,791 Cigna Group $CI

Key Points

• Woodline Partners LP purchased 80,791 shares of Cigna Group, valued at approximately $26.58 million, indicating a significant investment in the health services provider.
• Insider Nicole S. Jones sold 28,526 shares, resulting in a 52.66% decrease in her ownership of the stock, suggesting possible insider selling pressure.
• Cigna Group reported a better-than-expected EPS of $7.20 for the last quarter, exceeding analysts' estimates and showing an 11% year-over-year revenue growth.

Woodline Partners LP bought a new stake in shares of Cigna Group (NYSE:CI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 80,791 shares of the health services provider's stock, valued at approximately $26,580,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. MBB Public Markets I LLC acquired a new position in Cigna Group during the 1st quarter valued at about $325,000. United Services Automobile Association acquired a new stake in shares of Cigna Group in the 1st quarter worth approximately $2,111,000. Canada Post Corp Registered Pension Plan lifted its stake in shares of Cigna Group by 450.8% in the 1st quarter. Canada Post Corp Registered Pension Plan now owns 25,708 shares of the health services provider's stock worth $8,458,000 after acquiring an additional 21,041 shares during the period. Great Lakes Advisors LLC lifted its stake in shares of Cigna Group by 14.4% in the 1st quarter. Great Lakes Advisors LLC now owns 1,030 shares of the health services provider's stock worth $339,000 after acquiring an additional 130 shares during the period. Finally, Sciencast Management LP acquired a new stake in shares of Cigna Group in the 1st quarter worth approximately $2,048,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Cigna Group Stock Up 0.4%

NYSE CI opened at $302.13 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.71 and a quick ratio of 0.71. The company's 50 day simple moving average is $296.44 and its 200 day simple moving average is $312.11. 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 $80.65 billion, a P/E ratio of 16.49, a PEG ratio of 0.88 and a beta of 0.48.

Cigna Group (NYSE:CI - Get Free Report) last released its earnings results 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 net margin of 1.92% and a return on equity of 18.80%. The business had revenue of $67.13 billion for the quarter, compared to the consensus estimate of $62.61 billion. During the same period in the previous year, the firm earned $6.72 EPS. The business'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. Equities research analysts expect that Cigna Group will post 29.77 earnings per share 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. Stockholders of record on Thursday, September 4th will be issued a dividend of $1.51 per share. The ex-dividend date is Thursday, September 4th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.0%. Cigna Group's payout ratio is currently 32.97%.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $365.00 price target on shares of Cigna Group in a research note on Tuesday, August 26th. Guggenheim reaffirmed a "buy" rating and issued a $350.00 price target (down from $388.00) on shares of Cigna Group in a research note on Monday, August 4th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $371.00 price target on shares of Cigna Group in a research note on Thursday, June 26th. TD Cowen raised shares of Cigna Group to a "strong-buy" rating in a research note on Monday, June 23rd. Finally, Truist Financial set a $375.00 price target on shares of Cigna Group in a research note on Tuesday, September 2nd. 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 data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $374.76.

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.

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.