Cigna Group $CI Shares Acquired by Pzena Investment Management LLC

Key Points

• Pzena Investment Management LLC increased its stake in Cigna Group by 7.7% in the fourth quarter, buying 40,992 additional shares and bringing its total holding to 570,833 shares worth about $157.1 million.
• Cigna reported strong quarterly results, posting $7.79 EPS versus the $7.60 estimate and revenue of $68.52 billion, both ahead of expectations. Revenue rose 4.6% year over year.
• The company also announced a quarterly dividend of $1.56 per share, payable June 18, implying an annualized yield of 2.2%. Meanwhile, CEO David Cordani sold more than 201,000 shares in a pre-arranged trading plan.

Pzena Investment Management LLC lifted its position in shares of Cigna Group (NYSE:CI - Free Report) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 570,833 shares of the health services provider's stock after buying an additional 40,992 shares during the quarter. Pzena Investment Management LLC owned approximately 0.21% of Cigna Group worth $157,110,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CI. Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 last quarter. Capital Research Global Investors raised its stake in shares of Cigna Group by 140.2% during the 3rd quarter. Capital Research Global Investors now owns 3,179,301 shares of the health services provider's stock worth $916,434,000 after buying an additional 1,855,897 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Cigna Group by 8.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,805,083 shares of the health services provider's stock worth $3,249,113,000 after buying an additional 903,334 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Cigna Group by 54.5% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,136,311 shares of the health services provider's stock valued at $615,781,000 after purchasing an additional 753,865 shares during the last quarter. Finally, M&T Bank Corp raised its stake in Cigna Group by 1,299.3% in the 4th quarter. M&T Bank Corp now owns 635,706 shares of the health services provider's stock valued at $174,965,000 after purchasing an additional 590,277 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

Cigna Group Trading Down 0.4%

NYSE CI opened at $281.84 on Friday. Cigna Group has a 12 month low of $239.51 and a 12 month high of $338.89. The company has a 50-day moving average of $276.12 and a 200-day moving average of $276.03. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $74.56 billion, a P/E ratio of 11.95, a P/E/G ratio of 0.99 and a beta of 0.30.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, beating analysts' consensus estimates of $7.60 by $0.19. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. The company had revenue of $68.52 billion during the quarter, compared to the consensus estimate of $66.29 billion. During the same quarter in the prior year, the company posted $6.74 EPS. The company's quarterly revenue was up 4.6% compared to the same quarter last year. Cigna Group has set its FY 2026 guidance at 30.350- EPS. As a group, equities analysts predict that Cigna Group will post 30.39 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a dividend of $1.56 per share. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group's dividend payout ratio is currently 26.45%.

Insider Activity

In other news, CEO David Cordani sold 201,878 shares of the company's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the completion of the transaction, the chief executive officer owned 34,337 shares of the company's stock, valued at $10,054,560.34. This represents a 85.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 1,719 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $288.91, for a total transaction of $496,636.29. Following the transaction, the insider directly owned 5,670 shares of the company's stock, valued at approximately $1,638,119.70. This represents a 23.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 205,904 shares of company stock valued at $60,277,068 in the last 90 days. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on CI shares. Wells Fargo & Company boosted their target price on shares of Cigna Group from $300.00 to $305.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Raymond James Financial set a $340.00 target price on shares of Cigna Group in a research note on Friday, May 1st. Jefferies Financial Group cut their target price on shares of Cigna Group from $333.00 to $330.00 and set a "buy" rating for the company in a research note on Monday, April 20th. Leerink Partners boosted their target price on shares of Cigna Group from $270.00 to $297.00 and gave the company a "market perform" rating in a research note on Friday, February 6th. Finally, UBS Group reissued a "buy" rating and issued a $375.00 target price on shares of Cigna Group in a research note on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $338.55.

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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