Cigna Group $CI Shares Sold by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon Corp trimmed its Cigna Group position by 1.2% in the fourth quarter, though it still held 1.65 million shares worth about $454.5 million.
• Cigna CEO David Cordani sold 201,878 shares in a Rule 10b5-1 transaction for roughly $59.1 million, cutting his ownership by more than 85%.
• Analysts remain constructive on the stock: several raised price targets, and the consensus rating is Moderate Buy with an average target of $338.30, above the recent trading price near $271.

Bank of New York Mellon Corp cut its position in shares of Cigna Group (NYSE:CI - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,651,168 shares of the health services provider's stock after selling 19,802 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Cigna Group worth $454,451,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Financial Strategies CORP purchased a new position in Cigna Group during the fourth quarter worth $28,000. Collier Financial acquired a new stake in Cigna Group in the 3rd quarter worth about $34,000. Lodestone Wealth Management LLC acquired a new stake in Cigna Group in the 4th quarter worth about $32,000. Creative Financial Designs Inc. ADV grew its position in Cigna Group by 147.3% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 136 shares of the health services provider's stock valued at $37,000 after acquiring an additional 81 shares during the period. Finally, Activest Wealth Management grew its position in Cigna Group by 1,050.0% during the fourth quarter. Activest Wealth Management now owns 138 shares of the health services provider's stock valued at $38,000 after acquiring an additional 126 shares during the period. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cigna Group

In other Cigna Group news, CEO David Cordani sold 201,878 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 34,337 shares in the company, valued at $10,054,560.34. This represents a 85.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CI. UBS Group boosted their price target on Cigna Group from $375.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Mizuho set a $330.00 price target on Cigna Group in a research note on Friday, May 1st. Sanford C. Bernstein boosted their price target on Cigna Group from $358.00 to $371.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 5th. TD Cowen boosted their price target on Cigna Group from $333.00 to $338.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Finally, Truist Financial boosted their price target on Cigna Group from $320.00 to $350.00 and gave the stock a "buy" rating in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $338.30.

Cigna Group Trading Down 0.6%

NYSE:CI opened at $271.03 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73. Cigna Group has a one year low of $239.51 and a one year high of $338.89. The business's 50-day simple moving average is $278.88 and its 200 day simple moving average is $277.07. The stock has a market cap of $71.70 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.98 and a beta of 0.28.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $68.52 billion for the quarter, compared to analysts' expectations of $66.29 billion. During the same quarter in the prior year, the firm posted $6.74 earnings per share. 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. As a group, sell-side analysts predict that Cigna Group will post 30.39 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be paid a dividend of $1.56 per share. The ex-dividend date is Thursday, June 4th. This represents a $6.24 annualized dividend and a yield of 2.3%. Cigna Group's dividend payout ratio is presently 26.45%.

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.

Want to see what other hedge funds are holding CI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cigna Group (NYSE:CI - Free Report).

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.