Castle Rock Wealth Management LLC Sells 5,089 Shares of Cigna Group $CI

Key Points

• Castle Rock Wealth Management cut its Cigna position by 84.5% in the third quarter, selling 5,089 shares and retaining 934 shares valued at approximately $256,000.
• Despite the reduction, institutional ownership remains high at 86.99%, with major investors including BlackRock, GQG Partners, Bank of America, Arrowstreet Capital and Dimensional Fund Advisors holding or increasing sizable positions.
• Cigna reported stronger-than-expected quarterly results, with EPS of $7.78 and revenue of $71.56 billion, while analysts maintain a “Moderate Buy” consensus and a $338.24 target price. The company also pays a quarterly dividend of $1.56 per share, yielding about 2.2%.

Castle Rock Wealth Management LLC lowered its position in Cigna Group (NYSE:CI - Free Report) by 84.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 934 shares of the health services provider's stock after selling 5,089 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Cigna Group were worth $256,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CI. BlackRock Inc. grew its position in Cigna Group by 3.7% during the second quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider's stock worth $6,461,457,000 after buying an additional 840,098 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Cigna Group in the 2nd quarter valued at about $1,628,918,000. Bank of America Corp DE increased its holdings in shares of Cigna Group by 8.8% in the 1st quarter. Bank of America Corp DE now owns 3,182,083 shares of the health services provider's stock worth $848,821,000 after buying an additional 256,677 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Cigna Group by 9.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,958,656 shares of the health services provider's stock worth $814,311,000 after buying an additional 263,036 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Cigna Group by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,426,218 shares of the health services provider's stock valued at $647,008,000 after buying an additional 236,340 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Insider Activity

In other news, insider Nicole S. Jones sold 2,677 shares of Cigna Group stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider directly owned 25,880 shares of the company's stock, valued at $7,236,306.80. The trade was a 9.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the transaction, the insider owned 5,053 shares of the company's stock, valued at approximately $1,435,304.65. This trade represents a 10.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,730 shares of company stock valued at $6,293,359 in the last three months. 0.60% of the stock is currently owned by corporate insiders.

Cigna Group Trading Up 0.4%

Cigna Group stock opened at $282.24 on Friday. Cigna Group has a one year low of $239.51 and a one year high of $311.34. The business's fifty day moving average is $277.41 and its 200 day moving average is $280.94. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $74.58 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.95 and a beta of 0.29.

Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results 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 business had revenue of $71.56 billion for the quarter, compared to analysts' expectations of $70.14 billion. During the same period last year, the firm posted $7.20 earnings per share. The business's revenue for the quarter was up 6.7% on a year-over-year basis. Cigna Group has set its FY 2026 guidance at 30.450- EPS. On average, sell-side analysts predict that Cigna Group will post 30.50 EPS for the current year.

Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 8th were issued a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 8th. Cigna Group's payout ratio is currently 25.82%.

Analyst Ratings Changes

CI has been the subject of several research analyst reports. Robert W. Baird set a $362.00 price target on Cigna Group in a research note on Friday, July 31st. Wells Fargo & Company raised their price target on Cigna Group from $305.00 to $307.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Barclays raised their target price on shares of Cigna Group from $304.00 to $310.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Piper Sandler set a $370.00 price target on shares of Cigna Group and gave the company an "overweight" rating in a report on Friday, October 2nd. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of Cigna Group in a research report on Friday, October 2nd. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $338.24.

About Cigna Group

The Cigna Group NYSE: CI is a global health company that provides health care and related services to individuals, employers, government organizations and health plans. Its operations are primarily organized through Cigna Healthcare and Evernorth Health Services, which together address health coverage, pharmacy services, care delivery and benefit management.

Cigna Healthcare offers medical, dental, behavioral health, disability and other benefits, with a focus on employer-sponsored and individual health plans in the United States as well as international health services.

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