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

Bank of New York Mellon Corp trimmed its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 3.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,635,725 shares of the health services provider's stock after selling 52,911 shares during the quarter. Bank of New York Mellon Corp owned 0.62% of Cigna Group worth $450,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC increased its stake in Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock worth $1,032,000 after buying an additional 318 shares during the period. Sivia Capital Partners LLC boosted its position in Cigna Group by 10.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,160 shares of the health services provider's stock valued at $384,000 after buying an additional 109 shares during the period. NewEdge Advisors LLC grew its stake in shares of Cigna Group by 4.5% in the second quarter. NewEdge Advisors LLC now owns 22,225 shares of the health services provider's stock worth $7,347,000 after acquiring an additional 958 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Cigna Group by 16.6% in the second quarter. Treasurer of the State of North Carolina now owns 148,840 shares of the health services provider's stock worth $49,204,000 after acquiring an additional 21,173 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Cigna Group during the second quarter worth $163,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Cigna Group Trading Up 0.6%

Shares of Cigna Group stock opened at $276.19 on Friday. Cigna Group has a 52-week low of $239.51 and a 52-week high of $315.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The company's 50-day simple moving average is $284.20 and its 200-day simple moving average is $281.38. The firm has a market cap of $72.98 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 0.94 and a beta of 0.29.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, beating the consensus estimate of $7.60 by $0.18. The firm 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 revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $7.20 earnings per share. Cigna Group has set its FY 2026 guidance at 30.450- EPS. As a group, equities research analysts anticipate that Cigna Group will post 30.51 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 8th will be paid a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Tuesday, September 8th. Cigna Group's dividend payout ratio is 25.82%.

Insider Buying and Selling

In other Cigna Group news, CAO Jamie G. Kates sold 899 shares of the 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 in the company, valued at $707,108.48. This represents a 27.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicole S. Jones sold 2,677 shares of the firm's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the transaction, the insider directly owned 25,880 shares of the company's stock, valued at approximately $7,236,306.80. This represents a 9.37% 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. Insiders have sold 23,012 shares of company stock valued at $6,386,550 in the last three months. Corporate insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

CI has been the subject of a number of recent research reports. Guggenheim lifted their target price on Cigna Group from $338.00 to $361.00 and gave the company a "buy" rating in a report on Friday, July 31st. Wall Street Zen lowered Cigna Group from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Wolfe Research reiterated an "outperform" rating and issued a $315.00 price objective on shares of Cigna Group in a research note on Tuesday, June 16th. Wells Fargo & Company boosted their price objective on Cigna Group from $305.00 to $307.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Cigna Group in a research note on Monday, June 1st. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $339.45.

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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