SCS Capital Management LLC Boosts Stock Position in Cigna Group $CI

SCS Capital Management LLC increased its position in Cigna Group (NYSE:CI) by 39.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,633 shares of the health services provider’s stock after acquiring an additional 8,609 shares during the quarter. SCS Capital Management LLC’s holdings in Cigna Group were worth $10,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC increased its stake in shares of Cigna Group by 86,071.1% in the second quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock worth $1,148,859,000 after purchasing an additional 3,471,249 shares in the last quarter. Norges Bank bought a new position in Cigna Group in the 2nd quarter worth $1,110,426,000. Nuveen LLC purchased a new stake in Cigna Group in the 1st quarter worth $727,905,000. Price T Rowe Associates Inc. MD raised its holdings in Cigna Group by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after acquiring an additional 1,094,327 shares during the period. Finally, GQG Partners LLC raised its holdings in Cigna Group by 21.5% during the first quarter. GQG Partners LLC now owns 4,886,674 shares of the health services provider’s stock valued at $1,607,716,000 after acquiring an additional 865,092 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Activity at Cigna Group

In related news, CEO David Cordani bought 4,134 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average price of $241.88 per share, with a total value of $999,931.92. Following the transaction, the chief executive officer owned 157,935 shares in the company, valued at $38,201,317.80. This trade represents a 2.69% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Evanko sold 5,368 shares of the firm’s stock in a transaction on Friday, October 3rd. The stock was sold at an average price of $300.00, for a total value of $1,610,400.00. Following the completion of the sale, the insider owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This represents a 9.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CI shares. Wells Fargo & Company cut their target price on Cigna Group from $354.00 to $300.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Wall Street Zen raised shares of Cigna Group from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Leerink Partners reduced their price objective on shares of Cigna Group from $300.00 to $270.00 in a research report on Friday, October 31st. Jefferies Financial Group restated a “buy” rating and set a $310.00 target price on shares of Cigna Group in a research report on Monday, November 3rd. Finally, Cantor Fitzgerald reduced their price target on shares of Cigna Group from $365.00 to $325.00 in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $334.45.

Cigna Group Trading Down 0.9%

CI stock opened at $267.98 on Friday. The firm has a fifty day moving average price of $283.63 and a 200 day moving average price of $296.31. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00. The firm has a market cap of $71.59 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.26. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 0.76.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The company had revenue of $69.57 billion for the quarter, compared to the consensus estimate of $66.40 billion. During the same quarter in the prior year, the firm earned $7.51 earnings per share. Cigna Group’s revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Sell-side analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, December 4th. Cigna Group’s payout ratio is presently 26.64%.

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.