BI Asset Management Fondsmaeglerselskab A S Sells 16,706 Shares of Cigna Group $CI

Key Points

• BI Asset Management cut its Cigna Group stake by 48.7% in the fourth quarter, selling 16,706 shares and leaving it with 17,630 shares valued at about $4.85 million.
• Cigna reported better-than-expected quarterly results, posting $7.79 EPS on $68.52 billion in revenue, both above analyst estimates, while revenue rose 4.6% year over year.
• The company announced a quarterly dividend of $1.56 per share, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $338.30.

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 48.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,630 shares of the health services provider's stock after selling 16,706 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Cigna Group were worth $4,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Beacon Financial Strategies CORP bought a new position in Cigna Group during the fourth quarter worth about $28,000. Collier Financial bought a new position in Cigna Group during the 3rd quarter worth approximately $34,000. Lodestone Wealth Management LLC acquired a new position in Cigna Group during the fourth quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV increased its stake in Cigna Group by 147.3% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 136 shares of the health services provider's stock valued at $37,000 after purchasing an additional 81 shares in the last quarter. Finally, Activest Wealth Management raised its holdings in Cigna Group by 1,050.0% in the fourth quarter. Activest Wealth Management now owns 138 shares of the health services provider's stock worth $38,000 after purchasing an additional 126 shares during the period. 86.99% of the stock is owned by institutional investors.

Cigna Group Stock Up 0.2%

Shares of Cigna Group stock opened at $290.17 on Monday. The firm has a market cap of $76.76 billion, a PE ratio of 12.30, a P/E/G ratio of 1.12 and a beta of 0.28. The business's 50 day simple moving average is $279.58 and its 200 day simple moving average is $277.29. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73. Cigna Group has a 52-week low of $239.51 and a 52-week high of $338.89.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The health services provider reported $7.79 earnings per share for the quarter, topping analysts' consensus estimates of $7.60 by $0.19. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.The firm had revenue of $68.52 billion during the quarter, compared to the consensus estimate of $66.29 billion. During the same quarter in the prior year, the firm posted $6.74 EPS. The business's revenue was up 4.6% on a year-over-year basis. Cigna Group has set its FY 2026 guidance at 30.350- EPS. On average, analysts predict that Cigna Group will post 30.39 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be paid a $1.56 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $6.24 annualized dividend and a dividend yield of 2.2%. Cigna Group's dividend payout ratio (DPR) is currently 26.45%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CI shares. Morgan Stanley lifted 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. Guggenheim upped their price objective on shares of Cigna Group from $334.00 to $338.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Jefferies Financial Group dropped their price objective on Cigna Group from $333.00 to $330.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Mizuho set a $330.00 target price on Cigna Group in a report on Friday, May 1st. Finally, Robert W. Baird set a $337.00 price target on Cigna Group in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $338.30.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, CEO David Cordani sold 201,878 shares of the stock in a transaction on 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 completion of the sale, the chief executive officer owned 34,337 shares in the company, valued at $10,054,560.34. This trade represents a 85.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

Cigna Group Company 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.

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.