3,002,366 Shares in Cigna Group $CI Acquired by Bank of America Corp DE

Bank of America Corp DE acquired a new stake in shares of Cigna Group (NYSE:CI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,002,366 shares of the health services provider's stock, valued at approximately $827,692,000. Bank of America Corp DE owned about 1.14% of Cigna Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Osbon Capital Management LLC purchased a new position in shares of Cigna Group in the second quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new position in Cigna Group in the 2nd quarter worth approximately $29,000. Fiduciary Financial Advisors purchased a new position in Cigna Group during the 2nd quarter worth approximately $29,000. Cedar Mountain Advisors LLC raised its stake in Cigna Group by 161.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider's stock valued at $29,000 after purchasing an additional 68 shares during the period. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in shares of Cigna Group in the second quarter valued at $34,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Cigna Group Price Performance

NYSE CI opened at $288.96 on Wednesday. Cigna Group has a twelve month low of $239.51 and a twelve month high of $315.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market capitalization of $76.36 billion, a PE ratio of 11.96, a P/E/G ratio of 1.00 and a beta of 0.31. The stock has a 50-day simple moving average of $283.52 and a 200 day simple moving average of $280.87.

Cigna Group (NYSE:CI - Get Free Report) last released its earnings results on Thursday, July 30th. The health services provider reported $7.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.60 by $0.18. The firm had revenue of $70.04 billion for the quarter, compared to analyst estimates of $70.14 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%.The company's revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $7.20 EPS. Cigna Group has set its FY 2026 guidance at 30.450- EPS. Research analysts anticipate that Cigna Group will post 30.51 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 8th will be given a $1.56 dividend. The ex-dividend date is Tuesday, September 8th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group's dividend payout ratio (DPR) is currently 25.82%.

Insider Activity at Cigna Group

In other news, insider Everett Neville sold 617 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $284.05, for a total transaction of $175,258.85. Following the sale, the insider directly owned 5,053 shares in the company, valued at approximately $1,435,304.65. The trade was a 10.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 2,677 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the transaction, the insider owned 25,880 shares of the company's stock, valued at $7,236,306.80. The trade was a 9.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,730 shares of company stock worth $6,293,359 in the last three months. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CI. Raymond James Financial downgraded Cigna Group from a "strong-buy" rating to an "outperform" rating and lowered their price target for the company from $350.00 to $320.00 in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft cut Cigna Group from a "buy" rating to a "hold" rating and lowered their target price for the company from $303.00 to $302.00 in a research note on Wednesday, May 20th. Morgan Stanley increased their price target on shares of Cigna Group from $355.00 to $361.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Wells Fargo & Company boosted their price objective on shares of Cigna Group from $305.00 to $307.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Finally, Evercore started coverage on shares of Cigna Group in a research note on Wednesday, September 9th. They issued an "in-line" rating and a $290.00 price objective on the stock. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Cigna Group has a consensus rating of "Moderate Buy" and an average target price of $337.10.

Cigna Group Company Profile

The Cigna Group NYSE: CI is a global health services company that helps individuals, employers, health plans and government organizations access health care and related services. The company operates primarily through two businesses: Cigna Healthcare, which provides medical, behavioral health, dental and other health benefit products and services, and Evernorth Health Services, which offers pharmacy, care delivery and health benefits solutions.

Evernorth includes Express Scripts, a pharmacy benefit services provider that manages prescription drug benefits and operates home delivery and specialty pharmacy services.

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