Cigna Group $CI Shares Bought by Conning Inc.

Key Points

• Conning Inc. increased its stake in Cigna Group by 13% in the first quarter, bringing its holdings to 132,907 shares valued at about $35.5 million.
• Insider selling was notable, with CEO David Cordani and CAO Jamie G. Kates both selling shares in recent transactions; insiders now own just 0.60% of the company.
• Cigna reported solid quarterly results, beating earnings and revenue estimates with EPS of $7.79 and revenue of $68.52 billion, while also maintaining a quarterly dividend of $1.56 per share.

Conning Inc. increased its stake in Cigna Group (NYSE:CI - Free Report) by 13.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 132,907 shares of the health services provider's stock after acquiring an additional 15,324 shares during the period. Conning Inc. owned approximately 0.05% of Cigna Group worth $35,453,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Cigna Group during the 4th quarter valued at $1,019,790,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Cigna Group by 13,333.2% in 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 raised its position in shares of Cigna Group by 19.7% in the 4th quarter. Dodge & Cox now owns 11,138,614 shares of the health services provider's stock worth $3,065,681,000 after buying an additional 1,833,389 shares during the period. Boston Partners boosted its holdings 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 acquiring an additional 1,243,056 shares during the last quarter. Finally, GQG Partners LLC boosted its holdings in Cigna Group by 14.3% in the fourth quarter. GQG Partners LLC now owns 7,763,295 shares of the health services provider's stock valued at $2,136,699,000 after acquiring an additional 972,302 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Jamie G. Kates sold 899 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the transaction, the chief accounting officer directly owned 2,368 shares of the company's stock, valued at approximately $707,108.48. The trade was a 27.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 201,878 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the transaction, the chief executive officer directly owned 34,337 shares in the company, valued at approximately $10,054,560.34. The trade was a 85.46% 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. 0.60% of the stock is owned by corporate insiders.

Cigna Group Trading Up 0.5%

NYSE:CI opened at $293.36 on Friday. The business's 50-day moving average is $285.67 and its two-hundred day moving average is $279.73. The firm has a market capitalization of $77.60 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 1.12 and a beta of 0.29. Cigna Group has a 12 month low of $239.51 and a 12 month high of $315.47. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.73 and a quick ratio of 0.73.

Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Thursday, April 30th. The health services provider reported $7.79 earnings per share for the quarter, topping the consensus estimate of $7.60 by $0.19. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.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 business earned $6.74 earnings per share. The company's revenue was up 4.6% compared to the same quarter last year. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Research analysts predict that Cigna Group will post 30.39 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a dividend of $1.56 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $6.24 annualized dividend and a yield of 2.1%. Cigna Group's payout ratio is 26.45%.

Analysts Set New Price Targets

Several brokerages have commented on CI. Wells Fargo & Company upped their price target on Cigna Group from $300.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Piper Sandler decreased their target price on Cigna Group from $370.00 to $346.00 and set an "overweight" rating for the company in a report on Wednesday, June 3rd. Wolfe Research reissued an "outperform" rating and set a $315.00 target price on shares of Cigna Group in a research report on Tuesday, June 16th. Guggenheim increased their target price on shares of Cigna Group from $334.00 to $338.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Finally, Mizuho raised their price target on shares of Cigna Group from $330.00 to $340.00 and gave the company an "outperform" rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $338.80.

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.

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