Parnassus Investments LLC Has $92.37 Million Stock Holdings in Cigna Group $CI

Parnassus Investments LLC grew its holdings in Cigna Group (NYSE:CI - Free Report) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 335,611 shares of the health services provider's stock after purchasing an additional 8,468 shares during the quarter. Parnassus Investments LLC owned about 0.13% of Cigna Group worth $92,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Caprock Group LLC bought a new stake in Cigna Group in the 3rd quarter valued at about $4,124,000. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Cigna Group by 13.5% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 34,114 shares of the health services provider's stock valued at $9,839,000 after buying an additional 4,066 shares in the last quarter. Compass Wealth Management LLC bought a new stake in Cigna Group in the 3rd quarter valued at about $4,718,000. Varma Mutual Pension Insurance Co increased its position in Cigna Group by 9.6% in the 3rd quarter. Varma Mutual Pension Insurance Co now owns 40,942 shares of the health services provider's stock valued at $11,802,000 after buying an additional 3,600 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in Cigna Group in the 3rd quarter valued at about $3,171,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cantor Fitzgerald boosted their target price on Cigna Group from $325.00 to $340.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. The Goldman Sachs Group boosted their target price on Cigna Group from $335.00 to $340.00 and gave the company a "buy" rating in a research report on Monday, May 4th. UBS Group boosted their target price on Cigna Group from $375.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, May 22nd. Raymond James Financial set a $340.00 target price on Cigna Group in a research report on Friday, May 1st. Finally, Barclays lowered Cigna Group from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $310.00 to $304.00 in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $338.80.

Cigna Group Stock Performance

Shares of CI opened at $294.64 on Friday. 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 moving average price of $281.93 and a two-hundred day moving average price of $277.87. The firm has a market capitalization of $77.94 billion, a P/E ratio of 12.49, a P/E/G ratio of 1.14 and a beta of 0.28. Cigna Group has a 52 week low of $239.51 and a 52 week high of $338.89.

Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, topping analysts' consensus estimates of $7.60 by $0.19. The firm had revenue of $68.52 billion during the quarter, compared to analyst estimates of $66.29 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.The company's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $6.74 EPS. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Equities 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 disclosed 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 2.1%. The ex-dividend date of this dividend is Thursday, June 4th. Cigna Group's payout ratio is currently 26.45%.

Insider Buying and Selling

In other Cigna Group news, CEO David Cordani sold 201,878 shares of the business's stock in a transaction that occurred on 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 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. The trade was a 85.46% decrease in their position. The sale was disclosed in a document filed with the SEC, 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.

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