Cibc World Market Inc. Makes New $10.24 Million Investment in Cigna Group $CI

Key Points

• CIBC World Market initiated a $10.24 million position in Cigna during the second quarter, while institutional investors and hedge funds collectively own 86.99% of the company.
• Cigna reported quarterly EPS of $7.78, beating estimates by $0.18, while revenue rose 6.7% year over year to $70.04 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $339.45, above the stock’s reported $280.32 price.
• Cigna declared a quarterly dividend of $1.56, equivalent to $6.24 annually and a 2.2% yield. Recent insider activity was weighted toward selling, with insiders disposing of 23,012 shares worth approximately $6.39 million over three months.

Cibc World Market Inc. purchased a new position in Cigna Group (NYSE:CI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,134 shares of the health services provider's stock, valued at approximately $10,237,000.

Other hedge funds also recently modified their holdings of the company. GQG Partners LLC bought a new position in shares of Cigna Group during the 2nd quarter valued at about $1,628,918,000. Norges Bank bought a new stake in Cigna Group during the 4th quarter worth approximately $1,019,790,000. Northwestern Mutual Wealth Management Co. raised its holdings in Cigna Group by 13,333.2% during 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. Dodge & Cox lifted its stake in Cigna Group by 19.7% in the fourth quarter. Dodge & Cox now owns 11,138,614 shares of the health services provider's stock valued at $3,065,681,000 after buying an additional 1,833,389 shares in the last quarter. Finally, Boston Partners lifted its stake in Cigna Group by 314.6% in the fourth quarter. Boston Partners now owns 1,638,191 shares of the health services provider's stock valued at $450,856,000 after buying an additional 1,243,056 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Stock Up 1.0%

NYSE:CI opened at $280.32 on Tuesday. Cigna Group has a twelve month low of $239.51 and a twelve month high of $315.47. The firm has a market capitalization of $74.07 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.95 and a beta of 0.29. 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 stock's 50 day moving average price is $283.92 and its two-hundred day moving average price is $281.48.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $70.14 billion. During the same quarter in the prior year, the firm posted $7.20 EPS. The firm'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 research analysts expect that Cigna Group will post 30.51 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

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

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 value of $268,450.39. Following the sale, the chief accounting officer directly owned 2,368 shares of the company's stock, valued at approximately $707,108.48. This represents a 27.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 19,436 shares of Cigna Group stock in a transaction dated 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 transaction, the insider owned 27,256 shares of the company's stock, valued at $7,530,015.12. The trade was a 41.63% 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. In the last three months, insiders sold 23,012 shares of company stock valued at $6,386,550. Insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CI shares. Weiss Ratings reissued a "hold (c)" rating on shares of Cigna Group in a research report on Monday, June 1st. Wolfe Research reaffirmed an "outperform" rating and issued a $315.00 price objective on shares of Cigna Group in a research report on Tuesday, June 16th. UBS Group upped their target price on shares of Cigna Group from $375.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Royal Bank Of Canada increased their target price on Cigna Group from $333.00 to $337.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Finally, Guggenheim lifted their price target on Cigna Group from $338.00 to $361.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Fifteen investment 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, Cigna Group presently has an average rating of "Moderate Buy" and an average price target of $339.45.

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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