Cigna Group $CI Holdings Boosted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its stake in shares of Cigna Group (NYSE:CI - Free Report) by 240.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,407 shares of the health services provider's stock after buying an additional 249,724 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.13% of Cigna Group worth $89,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. GQG Partners LLC acquired a new position in shares of Cigna Group in the 2nd quarter worth approximately $1,628,918,000. Bank of America Corp DE bought a new position in Cigna Group during the second quarter worth $827,692,000. Legal & General Group Plc bought a new position in Cigna Group during the second quarter worth $542,779,000. The Manufacturers Life Insurance Company bought a new position in Cigna Group during the second quarter worth $241,312,000. Finally, BlackRock Inc. boosted its holdings in Cigna Group by 3.7% in the second quarter. BlackRock Inc. now owns 23,438,250 shares of the health services provider's stock worth $6,461,457,000 after purchasing an additional 840,098 shares during the period. Institutional investors and hedge funds own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CI. Royal Bank Of Canada reiterated an "outperform" rating and set a $337.00 target price on shares of Cigna Group in a research note on Thursday, October 1st. Jefferies Financial Group downgraded shares of Cigna Group from a "buy" rating to a "hold" rating and reduced their price target for the stock from $336.00 to $307.00 in a research report on Tuesday, August 4th. Barclays lifted their price target on shares of Cigna Group from $304.00 to $310.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Cigna Group in a research report on Thursday, August 27th. Finally, Robert W. Baird set a $362.00 price objective on shares of Cigna Group in a research report on Friday, July 31st. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $338.24.

Cigna Group Trading Up 1.2%

Shares of NYSE CI opened at $302.48 on Friday. The stock has a market cap of $79.93 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 1.01 and a beta of 0.29. The business has a 50 day simple moving average of $278.87 and a 200 day simple moving average of $281.82. Cigna Group has a 52 week low of $239.51 and a 52 week high of $311.34. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 earnings per share for the quarter, beating the consensus estimate of $7.60 by $0.18. The firm had revenue of $71.56 billion for the quarter, compared to analyst estimates of $70.14 billion. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The company's revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $7.20 earnings per share. Cigna Group has set its FY 2026 guidance at 30.450- EPS. On average, research analysts predict that Cigna Group will post 30.50 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th were issued a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, September 8th. Cigna Group's payout ratio is 25.82%.

Insider Activity at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 2,677 shares of the stock in a transaction that occurred on 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 owned 25,880 shares in the company, valued at $7,236,306.80. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of Cigna Group stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total transaction of $175,258.85. Following the completion of the transaction, the insider directly owned 5,053 shares in the company, valued at approximately $1,435,304.65. This represents a 10.88% 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. Over the last 90 days, insiders sold 22,730 shares of company stock valued at $6,293,359. Corporate insiders own 0.60% of the company's stock.

Cigna Group Company Profile

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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