Arrowstreet Capital Limited Partnership Sells 98,367 Shares of Cigna Group $CI

Key Points

• Arrowstreet Capital reduced its Cigna Group stake by 3.3% in the first quarter, selling 98,367 shares and ending with 2,860,289 shares valued at about $763 million.
• Cigna reported better-than-expected quarterly results, with EPS of $7.79 versus estimates of $7.60 and revenue of $68.52 billion, up 4.6% year over year.
• The company declared a quarterly dividend of $1.56 per share, payable Sept. 23, implying a 2.2% annualized yield; analysts currently rate the stock a Moderate Buy with an average target price of $338.80.

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,860,289 shares of the health services provider's stock after selling 98,367 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.08% of Cigna Group worth $762,982,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wilkerson Advisory Group LLC acquired a new position in shares of Cigna Group during the 4th quarter valued at about $25,000. Beacon Financial Strategies CORP acquired a new stake in Cigna Group in the 4th quarter worth approximately $28,000. Kemnay Advisory Services Inc. bought a new stake in Cigna Group during the fourth quarter worth approximately $29,000. Prosperity Bancshares Inc acquired a new position in Cigna Group during the fourth quarter valued at approximately $29,000. Finally, Cedar Mountain Advisors LLC grew its holdings in Cigna Group by 161.9% during the first 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 last quarter. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Stock Up 0.5%

CI opened at $286.32 on Friday. The business has a 50 day moving average of $285.95 and a 200-day moving average of $280.71. The stock has a market capitalization of $75.74 billion, a price-to-earnings ratio of 12.14, a P/E/G ratio of 1.10 and a beta of 0.29. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69. Cigna Group has a 1-year low of $239.51 and a 1-year high of $315.47.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, April 30th. The health services provider reported $7.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $7.60 by $0.19. The business 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 quarter in the previous year, the firm posted $6.74 earnings per share. Cigna Group has set its FY 2026 guidance at 30.350- EPS. As a group, sell-side analysts anticipate that Cigna Group will post 30.39 earnings per share for the current year.

Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 8th will be issued a dividend of $1.56 per share. The ex-dividend date is Tuesday, September 8th. This represents a $6.24 annualized dividend and a dividend yield of 2.2%. Cigna Group's payout ratio is presently 26.45%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CI. Robert W. Baird set a $337.00 price objective on shares of Cigna Group in a research note on Friday, May 1st. Raymond James Financial set a $340.00 target price on shares of Cigna Group in a research note on Friday, May 1st. Barclays downgraded shares of Cigna Group from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $310.00 to $304.00 in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Cigna Group from a "hold" rating to a "buy" rating in a report on Saturday, June 20th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cigna Group in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Cigna Group currently has an average rating of "Moderate Buy" and an average target price of $338.80.

Insider Transactions at Cigna Group

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

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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