Marks Group Wealth Management Inc Sells 12,826 Shares of Cigna Group $CI

Key Points

• Marks Group Wealth Management cut its Cigna Group stake by 48.4% in the fourth quarter, selling 12,826 shares and leaving it with 13,662 shares valued at about $3.76 million.
• Institutional ownership remains high, with several other firms increasing their positions and institutions collectively holding 86.99% of Cigna’s stock.
• Cigna’s fundamentals and outlook look solid: the company beat quarterly EPS and revenue estimates, and analysts currently rate the stock Moderate Buy with an average target price of $338.80.

Marks Group Wealth Management Inc lowered its position in Cigna Group (NYSE:CI - Free Report) by 48.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,662 shares of the health services provider's stock after selling 12,826 shares during the period. Marks Group Wealth Management Inc's holdings in Cigna Group were worth $3,760,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in shares of Cigna Group in the 4th quarter worth approximately $1,178,000. Montis Financial LLC raised its position in shares of Cigna Group by 5.5% in the 4th quarter. Montis Financial LLC now owns 788 shares of the health services provider's stock worth $217,000 after acquiring an additional 41 shares in the last quarter. Cerity Partners LLC raised its position in shares of Cigna Group by 157.6% in the 4th quarter. Cerity Partners LLC now owns 234,668 shares of the health services provider's stock worth $64,587,000 after acquiring an additional 143,568 shares in the last quarter. Brandywine Global Investment Management LLC raised its position in shares of Cigna Group by 60.6% in the 4th quarter. Brandywine Global Investment Management LLC now owns 301,723 shares of the health services provider's stock worth $83,043,000 after acquiring an additional 113,805 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Cigna Group by 12.4% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 108,379 shares of the health services provider's stock worth $29,829,000 after acquiring an additional 11,940 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CI. Piper Sandler decreased their target price on Cigna Group from $370.00 to $346.00 and set an "overweight" rating for the company in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft downgraded Cigna Group from a "buy" rating to a "hold" rating and cut their price target for the stock from $303.00 to $302.00 in a research note on Wednesday, May 20th. The Goldman Sachs Group upped their price target on Cigna Group from $335.00 to $340.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Jefferies Financial Group cut their price target on Cigna Group from $333.00 to $330.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Finally, TD Cowen upped 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $338.80.

Cigna Group Stock Performance

CI stock opened at $289.71 on Tuesday. The stock has a market capitalization of $76.64 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.12 and a beta of 0.28. Cigna Group has a 12-month low of $239.51 and a 12-month high of $338.89. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69. The stock's 50 day simple moving average is $279.94 and its 200 day simple moving average is $277.41.

Cigna Group (NYSE:CI - Get Free Report) last released 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. The business had revenue of $68.52 billion for the quarter, compared to analysts' expectations 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 period in the prior year, the firm posted $6.74 EPS. Cigna Group has set its FY 2026 guidance at 30.350- EPS. As a group, research analysts forecast that Cigna Group will post 30.39 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 2.2%. Cigna Group's payout ratio is currently 26.45%.

Insiders Place Their Bets

In other Cigna Group news, CEO David Cordani sold 201,878 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the completion of the sale, the chief executive officer directly owned 34,337 shares in the company, valued at approximately $10,054,560.34. The trade was a 85.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

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.

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.