Allworth Financial LP purchased a new position in Cigna Group (NYSE:CI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 32,481 shares of the health services provider's stock, valued at approximately $8,954,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CI. Wilkerson Advisory Group LLC purchased a new stake in Cigna Group during the fourth quarter valued at approximately $25,000. Cedar Mountain Advisors LLC increased its position in shares of Cigna Group by 161.9% during the first quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider's stock worth $29,000 after purchasing an additional 68 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Cigna Group during the second quarter worth $29,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Cigna Group during the 4th quarter valued at $29,000. Finally, Prosperity Bancshares Inc acquired a new stake in shares of Cigna Group in the 4th quarter worth $29,000. 86.99% of the stock is currently owned by institutional investors.
Cigna Group Stock Down 1.1%
Cigna Group stock opened at $274.50 on Friday. The business's 50-day simple moving average is $284.63 and its two-hundred day simple moving average is $281.41. 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 company has a market cap of $72.53 billion, a PE ratio of 11.36, a PEG ratio of 0.95 and a beta of 0.29. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $315.47.
Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.60 by $0.18. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%.The firm had revenue of $70.04 billion during the quarter, compared to analysts' expectations of $70.14 billion. During the same period last year, the business posted $7.20 earnings per share. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. Cigna Group has set its FY 2026 guidance at 30.450- EPS. Equities analysts anticipate that Cigna Group will post 30.51 EPS for the current year.
Cigna Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be issued a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 8th. Cigna Group's dividend payout ratio (DPR) is 25.82%.
Insider Activity at Cigna Group
In other news, CAO Jamie G. Kates sold 899 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the sale, the chief accounting officer owned 2,368 shares of the company's stock, valued at $707,108.48. This trade represents a 27.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole S. Jones sold 19,436 shares of Cigna Group stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $276.27, for a total transaction of $5,369,583.72. Following the transaction, the insider directly owned 27,256 shares of the company's stock, valued at approximately $7,530,015.12. This trade represents a 41.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 23,012 shares of company stock valued at $6,386,550. 0.60% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on CI. Guggenheim upped their target price on Cigna Group from $338.00 to $361.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Weiss Ratings reissued a "hold (c)" rating on shares of Cigna Group in a report on Monday, June 1st. Royal Bank Of Canada boosted their price target on Cigna Group from $333.00 to $337.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, UBS Group increased their price objective on shares of Cigna Group from $375.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $339.45.
Read Our Latest Analysis on Cigna Group
About Cigna Group
(
Free Report)
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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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