California State Teachers Retirement System Increases Position in Cigna Group $CI

Key Points

• California State Teachers Retirement System dramatically increased its Cigna stake by 26,190.2% in the second quarter, holding 106.6 million shares worth $29.4 billion, or 40.36% of the company. Institutional investors and hedge funds collectively own 86.99% of Cigna.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $339.45, despite Jefferies downgrading the stock to “Hold.”
• Cigna exceeded quarterly EPS expectations, reporting $7.78 versus the $7.60 estimate, while revenue rose 6.7% year over year to $70.04 billion. The company also declared a quarterly dividend of $1.56, equivalent to a 2.2% annual yield.

California State Teachers Retirement System raised its position in shares of Cigna Group (NYSE:CI - Free Report) by 26,190.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,647,359 shares of the health services provider's stock after purchasing an additional 106,241,705 shares during the quarter. California State Teachers Retirement System owned 40.36% of Cigna Group worth $29,400,544,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CI. GQG Partners LLC acquired a new stake in shares of Cigna Group during the second quarter worth about $1,628,918,000. Norges Bank acquired a new position in Cigna Group in the 4th quarter worth approximately $1,019,790,000. Northwestern Mutual Wealth Management Co. increased its holdings in Cigna Group by 13,333.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,165,408 shares of the health services provider's stock worth $900,912,000 after buying an additional 3,141,844 shares during the period. Bank of America Corp DE purchased a new position in Cigna Group during the 2nd quarter worth approximately $827,692,000. Finally, Legal & General Group Plc acquired a new stake in Cigna Group during the 2nd quarter valued at approximately $542,779,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cigna Group news, insider Nicole S. Jones sold 19,436 shares of the firm's stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $276.27, for a total value of $5,369,583.72. Following the completion of the sale, the insider directly owned 27,256 shares of the company's stock, valued at $7,530,015.12. This trade represents a 41.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Cigna Group stock in a transaction on Friday, June 12th. The stock was sold at an average price of $298.61, for a total value of $268,450.39. Following the transaction, the chief accounting officer owned 2,368 shares in the company, valued at approximately $707,108.48. This represents a 27.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,012 shares of company stock worth $6,386,550 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on CI shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Cigna Group in a research note on Thursday, August 27th. Robert W. Baird set a $362.00 price target on Cigna Group in a research report on Friday, July 31st. Guggenheim boosted their price objective on Cigna Group from $338.00 to $361.00 and gave the company a "buy" rating in a report on Friday, July 31st. Morgan Stanley upped their target price on Cigna Group from $355.00 to $361.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group lowered Cigna Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $336.00 to $307.00 in a report on Tuesday, August 4th. Fifteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $339.45.

Cigna Group Stock Down 0.1%

CI stock opened at $282.24 on Tuesday. Cigna Group has a 52 week low of $239.51 and a 52 week high of $315.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The firm has a 50-day simple moving average of $283.56 and a 200-day simple moving average of $280.94. The stock has a market capitalization of $74.58 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.97 and a beta of 0.31.

Cigna Group (NYSE:CI - Get Free Report) last posted 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 company had revenue of $70.04 billion for the quarter, compared to analysts' expectations of $70.14 billion. During the same period in the previous year, the firm posted $7.20 EPS. Cigna Group's revenue 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 forecast that Cigna Group will post 30.51 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

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

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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