Cigna Group $CI Stock Bought by State of Alaska Department of Revenue

Key Points

• State of Alaska Department of Revenue increased its Cigna stake by 192.9% in the third quarter, adding 62,126 shares for a total holding of 94,325 shares valued at approximately $25.6 million.
• Institutional investors own 86.99% of Cigna, while insiders sold 22,730 shares worth about $6.3 million over the past 90 days.
• Cigna’s stock recently traded at $298.36, and analysts maintain a “Moderate Buy” consensus with an average price target of $338.24. The company also exceeded quarterly earnings and revenue estimates and pays an annualized dividend of $6.24 per share.

State of Alaska Department of Revenue lifted its stake in Cigna Group (NYSE:CI - Free Report) by 192.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,325 shares of the health services provider's stock after buying an additional 62,126 shares during the period. State of Alaska Department of Revenue's holdings in Cigna Group were worth $25,640,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Assetmark Inc. boosted its stake in Cigna Group by 10.0% during the 1st quarter. Assetmark Inc. now owns 65,662 shares of the health services provider's stock worth $17,515,000 after purchasing an additional 5,963 shares during the period. Mystic Asset Management Inc. purchased a new position in shares of Cigna Group during the second quarter worth about $2,808,000. KBC Group NV increased its position in Cigna Group by 6.4% in the 2nd quarter. KBC Group NV now owns 380,034 shares of the health services provider's stock valued at $104,768,000 after acquiring an additional 22,978 shares during the period. Nykredit A S acquired a new position in Cigna Group in the 2nd quarter valued at about $15,300,000. Finally, Sanctuary Advisors LLC acquired a new position in Cigna Group in the 2nd quarter valued at about $11,043,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cigna Group news, insider Everett Neville sold 617 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the completion of the transaction, the insider directly owned 5,053 shares of the company's stock, valued at approximately $1,435,304.65. This trade represents a 10.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole Jones sold 19,436 shares of Cigna Group stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $276.27, for a total transaction of $5,369,583.72. Following the sale, the insider owned 27,256 shares of the company's stock, valued at approximately $7,530,015.12. The trade was a 41.63% 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 22,730 shares of company stock worth $6,293,359 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird set a $362.00 price objective on Cigna Group in a research report on Friday, July 31st. Weiss Ratings reiterated a "hold (c)" rating on shares of Cigna Group in a research note on Thursday, August 27th. Royal Bank Of Canada reissued an "outperform" rating and issued a $337.00 target price on shares of Cigna Group in a report on Thursday, October 1st. UBS Group reaffirmed a "buy" rating on shares of Cigna Group in a report on Thursday, October 1st. Finally, Guggenheim boosted their price objective on shares of Cigna Group from $338.00 to $361.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $338.24.

Cigna Group Price Performance

NYSE:CI traded up $8.78 during trading hours on Thursday, hitting $298.36. The company's stock had a trading volume of 773,995 shares, compared to its average volume of 1,666,098. The business's 50-day moving average is $277.98 and its two-hundred day moving average is $281.41. The company has a market capitalization of $78.84 billion, a PE ratio of 12.34, a PEG ratio of 0.95 and a beta of 0.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.76 and a current ratio of 0.76. Cigna Group has a 52-week low of $239.51 and a 52-week high of $311.34.

Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, topping the consensus estimate of $7.60 by $0.18. The company had revenue of $71.56 billion for the quarter, compared to analyst estimates 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 was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $7.20 EPS. Cigna Group has set its FY 2026 guidance at 30.450- EPS. As a group, research analysts anticipate that Cigna Group will post 30.50 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th were issued a dividend of $1.56 per share. The ex-dividend date of this dividend was Tuesday, September 8th. This represents a $6.24 dividend on an annualized basis and a yield of 2.1%. Cigna Group's payout ratio is currently 25.82%.

Cigna Group Profile

The Cigna Group NYSE: CI is a global health company that provides health care and related services to individuals, employers, government organizations and health plans. Its operations are primarily organized through Cigna Healthcare and Evernorth Health Services, which together address health coverage, pharmacy services, care delivery and benefit management.

Cigna Healthcare offers medical, dental, behavioral health, disability and other benefits, with a focus on employer-sponsored and individual health plans in the United States as well as international health services.

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