New York State Teachers Retirement System Acquires 4,387 Shares of Cigna Group $CI

Key Points

• New York State Teachers Retirement System increased its Cigna stake by 2.1% in Q1, adding 4,387 shares and bringing its total holding to 217,730 shares valued at about $58.1 million.
• Cigna reported strong quarterly results, posting EPS of $7.79 versus estimates of $7.60 and revenue of $68.52 billion, both ahead of expectations.
• The company also paid a $1.56 quarterly dividend and drew mixed analyst views, with a consensus rating of Moderate Buy and an average price target of $338.30.

New York State Teachers Retirement System increased its holdings in Cigna Group (NYSE:CI - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 217,730 shares of the health services provider's stock after purchasing an additional 4,387 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Cigna Group worth $58,079,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Wilkerson Advisory Group LLC bought a new position in shares of Cigna Group during the fourth quarter valued at about $25,000. Beacon Financial Strategies CORP purchased a new position in shares of Cigna Group in the fourth quarter worth about $28,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cigna Group in the 4th quarter valued at about $29,000. Prosperity Bancshares Inc purchased a new stake in Cigna Group during the 4th quarter valued at about $29,000. Finally, Lodestone Wealth Management LLC purchased a new stake in Cigna Group during the 4th quarter valued at about $32,000. 86.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO David Cordani sold 201,878 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total value of $59,113,915.96. Following the completion of the sale, the chief executive officer directly owned 34,337 shares of the company's stock, valued at approximately $10,054,560.34. This trade represents a 85.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of Cigna Group stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the sale, the chief accounting officer directly owned 2,368 shares in the company, valued at $707,108.48. The trade was a 27.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.60% of the stock is currently owned by insiders.

Cigna Group Trading Down 0.1%

NYSE CI opened at $287.50 on Friday. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $323.10. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a 50 day simple moving average of $285.09 and a two-hundred day simple moving average of $279.24. The stock has a market cap of $76.05 billion, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.11 and a beta of 0.29.

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

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were issued a $1.56 dividend. The ex-dividend date was Thursday, June 4th. This represents a $6.24 annualized dividend and a yield of 2.2%. Cigna Group's payout ratio is 26.45%.

Analyst Ratings Changes

A number of brokerages have commented on CI. Barclays cut Cigna Group from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $310.00 to $304.00 in a research note on Tuesday, May 26th. UBS Group increased their price objective on Cigna Group from $375.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, May 22nd. Wells Fargo & Company raised their target price on shares of Cigna Group from $300.00 to $305.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. Cantor Fitzgerald lifted their target price on shares of Cigna Group from $325.00 to $340.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. Finally, Guggenheim upped their price target on shares of Cigna Group from $334.00 to $338.00 and gave the company a "buy" rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Cigna Group presently has a consensus rating of "Moderate Buy" and an average price target of $338.30.

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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