Northwestern Mutual Wealth Management Co. Raises Stock Position in Cigna Group $CI

Key Points

• Northwestern Mutual Wealth Management increased its Cigna stake by 21.2% in the fourth quarter, ending with 28,561 shares worth about $7.86 million. Several other institutional investors also added to their positions, and hedge funds/other institutions own 86.99% of Cigna’s stock.
• Cigna CEO David Cordani sold 201,878 shares in a pre-arranged Rule 10b5-1 transaction for about $59.1 million, reducing his holdings by 85.46%. Company insiders now own just 0.60% of the stock.
• Analysts remain cautiously positive on Cigna, with a consensus rating of Moderate Buy and an average price target of $339.50. The company also beat earnings expectations last quarter and announced a quarterly dividend of $1.56 per share, payable June 18.

Northwestern Mutual Wealth Management Co. raised its stake in Cigna Group (NYSE:CI - Free Report) by 21.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,561 shares of the health services provider's stock after buying an additional 4,997 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Cigna Group were worth $7,861,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CI. Brighton Jones LLC increased its holdings in Cigna Group by 9.3% in the fourth quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider's stock valued at $1,032,000 after buying an additional 318 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Cigna Group by 10.4% in the second quarter. Sivia Capital Partners LLC now owns 1,160 shares of the health services provider's stock valued at $384,000 after buying an additional 109 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Cigna Group by 4.5% in the second quarter. NewEdge Advisors LLC now owns 22,225 shares of the health services provider's stock valued at $7,347,000 after buying an additional 958 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in Cigna Group by 16.6% in the second quarter. Treasurer of the State of North Carolina now owns 148,840 shares of the health services provider's stock valued at $49,204,000 after buying an additional 21,173 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Cigna Group during the 2nd quarter worth approximately $163,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cigna Group

In related news, CEO David Cordani sold 201,878 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer owned 34,337 shares in the company, valued at approximately $10,054,560.34. This trade represents a 85.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CI shares. TD Cowen raised their price objective on shares of Cigna Group from $333.00 to $338.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Leerink Partners raised their price objective on shares of Cigna Group from $270.00 to $297.00 and gave the stock a "market perform" rating in a research note on Friday, February 6th. Wells Fargo & Company raised their price objective on shares of Cigna Group from $300.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. Robert W. Baird set a $337.00 price objective on shares of Cigna Group in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut shares of Cigna Group from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $303.00 to $302.00 in a research note on Wednesday, May 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $339.50.

Cigna Group Stock Down 0.7%

Shares of NYSE CI opened at $272.37 on Wednesday. Cigna Group has a 1 year low of $239.51 and a 1 year high of $338.89. The firm's 50 day moving average price is $278.51 and its 200 day moving average price is $277.06. The firm has a market cap of $72.05 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.99 and a beta of 0.28. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.73 and a current ratio of 0.73.

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

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be given 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 2.3%. Cigna Group's dividend payout ratio (DPR) is 26.45%.

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.