Cigna Group $CI Shares Sold by Associated Banc Corp

Key Points

• Associated Banc Corp reduced its Cigna Group stake by 6.3% in the first quarter, selling 7,462 shares and ending with 111,834 shares valued at about $29.8 million.
• Several other institutional investors also adjusted positions in Cigna, and hedge funds and institutions continue to hold a large majority of the stock, at 86.99%.
• Cigna reported better-than-expected quarterly results with EPS of $7.79 on revenue of $68.52 billion, while analysts maintain a Moderate Buy rating with an average price target of $338.80.

Associated Banc Corp reduced its stake in Cigna Group (NYSE:CI - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 111,834 shares of the health services provider's stock after selling 7,462 shares during the period. Associated Banc Corp's holdings in Cigna Group were worth $29,832,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Cigna Group by 13.5% during the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 34,114 shares of the health services provider's stock worth $9,839,000 after buying an additional 4,066 shares during the period. Distillate Capital Partners LLC increased its holdings in Cigna Group by 19.1% during the 3rd quarter. Distillate Capital Partners LLC now owns 108,676 shares of the health services provider's stock worth $31,338,000 after purchasing an additional 17,442 shares during the period. Cooperman Leon G increased its holdings in Cigna Group by 53.3% during the 3rd quarter. Cooperman Leon G now owns 325,000 shares of the health services provider's stock worth $93,681,000 after purchasing an additional 113,000 shares during the period. apricus wealth LLC raised its position in Cigna Group by 715.9% in the 4th quarter. apricus wealth LLC now owns 9,505 shares of the health services provider's stock valued at $2,616,000 after purchasing an additional 8,340 shares in the last quarter. Finally, Danske Bank A S purchased a new position in shares of Cigna Group in the 3rd quarter valued at about $51,862,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Transactions at Cigna Group

In related news, CAO Jamie G. Kates sold 899 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $298.61, for a total value of $268,450.39. Following the transaction, the chief accounting officer owned 2,368 shares in the company, valued at $707,108.48. The trade was a 27.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David Cordani sold 201,878 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total value of $59,113,915.96. Following the sale, the chief executive officer directly owned 34,337 shares of the company's stock, valued at approximately $10,054,560.34. This represents a 85.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wall Street Zen raised Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, June 20th. Raymond James Financial set a $340.00 price target on shares of Cigna Group in a research note on Friday, May 1st. Royal Bank Of Canada boosted their price target on shares of Cigna Group from $333.00 to $337.00 and gave the stock an "outperform" rating in a report on Friday, May 1st. Cantor Fitzgerald increased their price objective on shares of Cigna Group from $325.00 to $340.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Finally, Morgan Stanley lifted their price objective on shares of Cigna Group from $355.00 to $361.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Cigna Group has an average rating of "Moderate Buy" and an average price target of $338.80.

Cigna Group Stock Up 0.5%

Shares of NYSE:CI traded up $1.56 during trading on Friday, hitting $293.36. 761,525 shares of the company were exchanged, compared to its average volume of 1,479,583. The firm's 50 day moving average price is $285.67 and its 200-day moving average price is $279.73. 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. The stock has a market capitalization of $77.60 billion, a P/E ratio of 12.44, a PEG ratio of 1.13 and a beta of 0.29.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, topping the consensus estimate of $7.60 by $0.19. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. The firm had revenue of $68.52 billion for the quarter, compared to analyst estimates of $66.29 billion. During the same period last year, the business earned $6.74 EPS. Cigna Group's revenue for the quarter was up 4.6% compared to the same quarter last year. Cigna Group has set its FY 2026 guidance at 30.350- EPS. On average, research analysts predict that Cigna Group will post 30.39 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a $1.56 dividend. This represents a $6.24 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, June 4th. Cigna Group's payout ratio is presently 26.45%.

Cigna Group Company 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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