Allspring Global Investments Holdings LLC Sells 185,718 Shares of Cigna Group $CI

Key Points

• Allspring Global Investments cut its Cigna position by 66.3% in Q1, selling 185,718 shares and leaving it with 94,516 shares worth about $25.3 million.
• Cigna insiders also sold stock recently, including CEO David Cordani, who sold 201,878 shares for about $59.1 million under a pre-arranged trading plan.
• The company reported better-than-expected Q1 earnings with EPS of $7.79 versus $7.60 expected, and it paid a quarterly dividend of $1.56 per share for a 2.2% annualized yield.

Allspring Global Investments Holdings LLC trimmed its position in shares of Cigna Group (NYSE:CI - Free Report) by 66.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,516 shares of the health services provider's stock after selling 185,718 shares during the period. Allspring Global Investments Holdings LLC's holdings in Cigna Group were worth $25,266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilkerson Advisory Group LLC bought a new position in Cigna Group in the 4th quarter valued at $25,000. Beacon Financial Strategies CORP bought a new position in shares of Cigna Group in the fourth quarter worth about $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Cigna Group in the fourth quarter worth about $29,000. Prosperity Bancshares Inc purchased a new position in Cigna Group in the 4th quarter worth about $29,000. Finally, Cedar Mountain Advisors LLC increased its stake in Cigna Group by 161.9% in the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider's stock worth $29,000 after buying an additional 68 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cigna Group

In other news, CEO David Cordani sold 201,878 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total value of $59,113,915.96. Following the sale, the chief executive officer directly owned 34,337 shares in the company, valued at approximately $10,054,560.34. This trade represents a 85.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $298.61, for a total transaction of $268,450.39. Following the transaction, the chief accounting officer owned 2,368 shares of the company's stock, valued at approximately $707,108.48. This trade represents a 27.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is owned by company insiders.

Cigna Group Price Performance

NYSE CI opened at $284.01 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73. The firm's 50 day moving average price is $286.59 and its 200-day moving average price is $280.48. Cigna Group has a 52-week low of $239.51 and a 52-week high of $315.47. The company has a market cap of $75.13 billion, a PE ratio of 12.04, a P/E/G ratio of 1.08 and a beta of 0.29.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.60 by $0.19. The company had revenue of $68.52 billion for the quarter, compared to analyst estimates of $66.29 billion. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. Cigna Group's revenue was up 4.6% compared to the same quarter last year. During the same period last year, the company posted $6.74 earnings per share. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Sell-side analysts forecast that Cigna Group will post 30.39 EPS for the current fiscal year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were paid a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, June 4th. Cigna Group's dividend payout ratio is 26.45%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Cigna Group from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Wall Street Zen raised shares of Cigna Group from a "hold" rating to a "buy" rating in a research note on Saturday, June 20th. Sanford C. Bernstein boosted their price target on Cigna Group from $371.00 to $381.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. UBS Group increased their price objective on Cigna Group from $375.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Finally, Morgan Stanley raised their price objective on Cigna Group from $355.00 to $361.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Cigna Group has an average rating of "Moderate Buy" and an average target price of $338.80.

Cigna Group Profile

Cigna Group NYSE: CI is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.

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