SCS Capital Management LLC Purchases Shares of 22,024 Cigna Group $CI

SCS Capital Management LLC purchased a new stake in shares of Cigna Group (NYSE:CI) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 22,024 shares of the health services provider’s stock, valued at approximately $7,246,000.

Several other hedge funds have also added to or reduced their stakes in the business. Woodline Partners LP acquired a new stake in Cigna Group during the 1st quarter valued at $26,580,000. MBB Public Markets I LLC acquired a new stake in shares of Cigna Group during the first quarter worth $325,000. United Services Automobile Association bought a new stake in shares of Cigna Group in the first quarter valued at about $2,111,000. Canada Post Corp Registered Pension Plan boosted its position in shares of Cigna Group by 450.8% in the first quarter. Canada Post Corp Registered Pension Plan now owns 25,708 shares of the health services provider’s stock valued at $8,458,000 after acquiring an additional 21,041 shares during the period. Finally, Great Lakes Advisors LLC boosted its position in shares of Cigna Group by 14.4% in the first quarter. Great Lakes Advisors LLC now owns 1,030 shares of the health services provider’s stock valued at $339,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Trading Down 1.5%

CI opened at $300.73 on Tuesday. Cigna Group has a twelve month low of $256.89 and a twelve month high of $370.83. The company has a 50-day simple moving average of $297.09 and a 200 day simple moving average of $312.18. 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 stock has a market capitalization of $80.27 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 0.89 and a beta of 0.48.

Cigna Group (NYSE:CI) last posted its quarterly earnings data 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. 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 during the quarter, compared to analysts’ expectations of $62.61 billion. During the same quarter in the prior year, the business posted $6.72 earnings per share. Cigna Group’s revenue was up 11.0% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors 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 dividend payout ratio is currently 32.97%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Guggenheim reissued a “buy” rating and issued a $350.00 target price (down previously from $388.00) on shares of Cigna Group in a research report on Monday, August 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $365.00 target price on shares of Cigna Group in a research report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a “buy” rating in a research report on Tuesday, August 5th. Wall Street Zen cut shares of Cigna Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Robert W. Baird set a $372.00 target price on shares of Cigna Group in a research report on Thursday, August 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $374.76.

Insiders Place Their Bets

In related news, insider Nicole S. Jones sold 28,526 shares of the company’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 completion of the sale, the insider owned 25,648 shares of the company’s stock, valued at $7,694,400. This represents a 52.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.70% of the stock is owned by corporate 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.