Massachusetts Financial Services Co. MA Cuts Stock Position in Cigna Group $CI

Key Points

• Massachusetts Financial Services Co. MA reduced its Cigna position by 9.9% in the second quarter, selling 1.15 million shares. It still held 10.44 million shares worth approximately $2.90 billion, representing a 3.95% stake.
• Analyst sentiment remains positive but moderated: Cigna has a “Moderate Buy” consensus rating from 22 analysts, with an average price target of $339.45, while Jefferies and Wall Street Zen downgraded the stock to “Hold.”
• Cigna exceeded quarterly earnings expectations with adjusted EPS of $7.78 versus $7.60 expected, while revenue rose 6.7% year over year to $70.04 billion. The company also announced a quarterly dividend of $1.56 per share, implying a 2.2% annual yield.

Massachusetts Financial Services Co. MA lessened its holdings in Cigna Group (NYSE:CI - Free Report) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,443,691 shares of the health services provider's stock after selling 1,151,491 shares during the period. Cigna Group makes up about 0.9% of Massachusetts Financial Services Co. MA's investment portfolio, making the stock its 12th largest position. Massachusetts Financial Services Co. MA owned about 3.95% of Cigna Group worth $2,895,610,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CI. Norges Bank purchased a new position in shares of Cigna Group in the 4th quarter worth $1,019,790,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Cigna Group by 13,333.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,165,408 shares of the health services provider's stock valued at $900,912,000 after buying an additional 3,141,844 shares in the last quarter. Dodge & Cox lifted its holdings in shares of Cigna Group by 19.7% in the 4th quarter. Dodge & Cox now owns 11,138,614 shares of the health services provider's stock valued at $3,065,681,000 after acquiring an additional 1,833,389 shares during the last quarter. Boston Partners lifted its holdings in shares of Cigna Group by 314.6% in the 4th quarter. Boston Partners now owns 1,638,191 shares of the health services provider's stock valued at $450,856,000 after acquiring an additional 1,243,056 shares during the last quarter. Finally, GQG Partners LLC grew its position in Cigna Group by 14.3% in the fourth quarter. GQG Partners LLC now owns 7,763,295 shares of the health services provider's stock worth $2,136,699,000 after acquiring an additional 972,302 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CI shares. Jefferies Financial Group cut Cigna Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $336.00 to $307.00 in a research note on Tuesday, August 4th. Wall Street Zen downgraded shares of Cigna Group from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Wolfe Research reissued an "outperform" rating and issued a $315.00 price objective on shares of Cigna Group in a research report on Tuesday, June 16th. Royal Bank Of Canada raised their price objective on shares of Cigna Group from $333.00 to $337.00 and gave the stock an "outperform" rating in a research note on Friday, May 1st. Finally, Sanford C. Bernstein boosted their target price on Cigna Group from $371.00 to $381.00 and gave the company an "outperform" rating in a research report on Thursday, July 9th. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Cigna Group presently has an average rating of "Moderate Buy" and an average target price of $339.45.

Cigna Group Stock Up 1.5%

Shares of CI opened at $282.24 on Friday. The firm has a market capitalization of $74.58 billion, a P/E ratio of 11.68, a P/E/G ratio of 0.96 and a beta of 0.29. Cigna Group has a 12-month low of $239.51 and a 12-month high of $315.47. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average price of $286.02 and a 200-day moving average price of $281.28.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, topping analysts' consensus estimates of $7.60 by $0.18. Cigna Group had a net margin of 2.27% and a return on equity of 19.75%. The firm had revenue of $70.04 billion for the quarter, compared to analysts' expectations of $70.14 billion. During the same period in the prior year, the business posted $7.20 earnings per share. The business's revenue for the quarter was up 6.7% on a year-over-year basis. Cigna Group has set its FY 2026 guidance at 30.450- EPS. Equities research analysts expect that Cigna Group will post 30.51 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Tuesday, September 8th will be given a dividend of $1.56 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group's dividend payout ratio (DPR) is 25.82%.

Insider Buying and Selling

In other Cigna Group news, CAO Jamie G. Kates sold 899 shares of the firm's stock in a transaction on Friday, June 12th. The stock was 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 trade represents a 27.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicole S. Jones sold 19,436 shares of Cigna Group stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $276.27, for a total value of $5,369,583.72. Following the sale, the insider directly owned 27,256 shares of the company's stock, valued at approximately $7,530,015.12. This trade represents 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. Company 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.

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