King Wealth Management Group Has $4.67 Million Stock Holdings in Cigna Group $CI

Key Points

• King Wealth Management Group increased its Cigna stake by 75.1% in the fourth quarter, ending with 16,967 shares worth about $4.67 million.
• Cigna reported better-than-expected quarterly results, posting $7.79 EPS on $68.52 billion in revenue, both above analyst forecasts.
• Insider selling was notable: CEO David Cordani sold 201,878 shares in May, and insiders sold a total of $60.3 million of stock over the last three months.

King Wealth Management Group boosted its position in shares of Cigna Group (NYSE:CI - Free Report) by 75.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,967 shares of the health services provider's stock after buying an additional 7,275 shares during the quarter. King Wealth Management Group's holdings in Cigna Group were worth $4,670,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CI. Brighton Jones LLC lifted its holdings 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 in the last quarter. Sivia Capital Partners LLC lifted its holdings in Cigna Group by 10.4% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,160 shares of the health services provider's stock worth $384,000 after buying an additional 109 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Cigna Group by 4.5% during the 2nd quarter. NewEdge Advisors LLC now owns 22,225 shares of the health services provider's stock worth $7,347,000 after buying an additional 958 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Cigna Group by 16.6% during the 2nd 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 buying an additional 21,173 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in Cigna Group during the 2nd quarter worth $163,000. Institutional investors and hedge funds own 86.99% of the company's stock.

Insider Transactions at Cigna Group

In other news, insider Everett Neville sold 1,719 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $288.91, for a total transaction of $496,636.29. Following the completion of the transaction, the insider directly owned 5,670 shares in the company, valued at $1,638,119.70. This represents a 23.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Cordani sold 201,878 shares of the stock in a transaction dated 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 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 205,904 shares of company stock worth $60,277,068 in the last three months. Insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CI shares. TD Cowen upped their price objective on Cigna Group from $333.00 to $338.00 and gave the stock a "buy" rating in a report on Monday, February 9th. Morgan Stanley upped their price objective on Cigna Group from $355.00 to $361.00 and gave the stock an "overweight" rating in a report on Wednesday, May 20th. Piper Sandler cut their price target on Cigna Group from $374.00 to $370.00 and set an "overweight" rating on the stock in a research note on Tuesday, March 3rd. Cantor Fitzgerald increased their price target on Cigna Group from $325.00 to $340.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded Cigna Group from a "buy" rating to a "hold" rating and cut their price target for the company from $303.00 to $302.00 in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $339.50.

Cigna Group Stock Performance

CI stock opened at $281.23 on Wednesday. The business's fifty day moving average is $277.30 and its 200-day moving average is $276.52. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.69. The company has a market cap of $74.39 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.03 and a beta of 0.30. Cigna Group has a twelve month low of $239.51 and a twelve month high of $338.89.

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

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a dividend of $1.56 per share. This represents a $6.24 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Thursday, June 4th. Cigna Group's dividend payout ratio is 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.