Cigna Group $CI Holdings Lifted by Amundi

Key Points

• Amundi increased its Cigna stake by 10.7% in the second quarter, bringing its holdings to 1.72 million shares valued at approximately $473 million. Institutional investors and hedge funds collectively own 86.99% of Cigna’s stock.
• Analysts maintain a generally positive view, with 15 Buy ratings and seven Holds; Cigna has a consensus rating of “Moderate Buy” and an average price target of $339.45.
• Cigna reported quarterly EPS of $7.78, surpassing estimates, 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% annualized yield.

Amundi boosted its stake in Cigna Group (NYSE:CI - Free Report) by 10.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,715,636 shares of the health services provider's stock after buying an additional 165,633 shares during the quarter. Amundi owned approximately 0.65% of Cigna Group worth $472,966,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System increased its holdings in shares of Cigna Group by 26,190.2% during the 2nd quarter. California State Teachers Retirement System now owns 106,647,359 shares of the health services provider's stock valued at $29,400,544,000 after acquiring an additional 106,241,705 shares during the last quarter. GQG Partners LLC bought a new stake in Cigna Group during the 2nd quarter valued at approximately $1,628,918,000. Norges Bank bought a new position in Cigna Group during the fourth quarter worth $1,019,790,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Cigna Group by 13,333.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,165,408 shares of the health services provider's stock valued at $900,912,000 after purchasing an additional 3,141,844 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Cigna Group in the second quarter valued at about $827,692,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Guggenheim raised their target price on Cigna Group from $338.00 to $361.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Piper Sandler decreased their target price on Cigna Group from $370.00 to $346.00 and set an "overweight" rating on the stock in a report on Wednesday, June 3rd. Robert W. Baird set a $362.00 price objective on shares of Cigna Group in a research report on Friday, July 31st. Sanford C. Bernstein increased their price target on shares of Cigna Group from $371.00 to $381.00 and gave the company an "outperform" rating in a research note on Thursday, July 9th. Finally, Barclays upped their price objective on Cigna Group from $304.00 to $310.00 and gave the stock an "equal weight" rating in a report on Friday, July 31st. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $339.45.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, CAO Jamie Kates sold 899 shares of Cigna Group stock in a transaction on 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 in the company, valued at approximately $707,108.48. The trade was a 27.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole Jones sold 2,677 shares of Cigna Group stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the sale, the insider directly owned 25,880 shares in the company, valued at approximately $7,236,306.80. This represents a 9.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,012 shares of company stock worth $6,386,550 over the last quarter. Company insiders own 0.60% of the company's stock.

Cigna Group Stock Down 0.1%

Shares of Cigna Group stock opened at $282.24 on Tuesday. Cigna Group has a 1 year low of $239.51 and a 1 year high of $315.47. 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 company has a market capitalization of $74.58 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.97 and a beta of 0.31. The business has a 50-day moving average of $283.56 and a two-hundred day moving average of $280.94.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results 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 company had revenue of $70.04 billion during the quarter, compared to analysts' expectations of $70.14 billion. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The business's quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $7.20 earnings per share. Cigna Group has set its FY 2026 guidance at 30.450- EPS. As a group, equities analysts predict that Cigna Group will post 30.51 EPS for the current year.

Cigna Group Dividend Announcement

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

About Cigna Group

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.