PARUS FINANCE UK Ltd Takes $2.54 Million Position in Cigna Group $CI

Key Points

• PARUS FINANCE UK Ltd initiated a new position in Cigna Group, buying 9,240 shares worth about $2.54 million in the fourth quarter. The stake represents roughly 0.7% of its portfolio and is its 20th largest holding.
• Wall Street remains broadly positive on Cigna, with analysts giving it a Moderate Buy consensus rating and an average price target of $339.50. Recent firms including Sanford C. Bernstein and Truist Financial also raised their targets.
• Cigna reported strong quarterly results, beating EPS and revenue estimates, while also announcing a $1.56 quarterly dividend. However, insider selling was notable, including CEO David Cordani’s large share sale under a pre-arranged trading plan.

PARUS FINANCE UK Ltd acquired a new stake in shares of Cigna Group (NYSE:CI - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,240 shares of the health services provider's stock, valued at approximately $2,543,000. Cigna Group makes up about 0.7% of PARUS FINANCE UK Ltd's investment portfolio, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Beacon Financial Strategies CORP bought a new position in shares of Cigna Group during the fourth quarter valued at approximately $28,000. Collier Financial bought a new position in shares of Cigna Group during the third quarter valued at approximately $34,000. Lodestone Wealth Management LLC bought a new position in shares of Cigna Group during the fourth quarter valued at approximately $32,000. Creative Financial Designs Inc. ADV boosted its stake in shares of Cigna Group by 147.3% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 136 shares of the health services provider's stock valued at $37,000 after purchasing an additional 81 shares in the last quarter. Finally, Activest Wealth Management boosted its stake in shares of Cigna Group by 1,050.0% during the fourth quarter. Activest Wealth Management now owns 138 shares of the health services provider's stock valued at $38,000 after purchasing an additional 126 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CI has been the topic of a number of recent research reports. Raymond James Financial set a $340.00 price objective on shares of Cigna Group in a research note on Friday, May 1st. Sanford C. Bernstein increased their price objective on shares of Cigna Group from $358.00 to $371.00 and gave the company an "outperform" rating in a research note on Tuesday, May 5th. Truist Financial increased their price objective on shares of Cigna Group from $320.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday, February 17th. Robert W. Baird set a $337.00 target price on shares of Cigna Group in a research report on Friday, May 1st. Finally, Jefferies Financial Group decreased their target price on shares of Cigna Group from $333.00 to $330.00 and set a "buy" rating for the company in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $339.50.

Insiders Place Their Bets

In other Cigna Group news, CEO David Cordani sold 201,878 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 1,719 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $288.91, for a total transaction of $496,636.29. Following the completion of the transaction, the insider directly owned 5,670 shares of the company's stock, valued at approximately $1,638,119.70. This represents a 23.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 205,904 shares of company stock valued at $60,277,068. Insiders own 0.60% of the company's stock.

Cigna Group Trading Down 2.5%

NYSE:CI opened at $277.08 on Friday. Cigna Group has a 52 week low of $239.51 and a 52 week high of $338.89. The firm has a 50 day moving average of $278.32 and a 200 day moving average of $276.88. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $73.30 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.00 and a beta of 0.30.

Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, beating 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 company had revenue of $68.52 billion during the quarter, compared to analysts' expectations of $66.29 billion. During the same quarter in the prior year, the company posted $6.74 earnings per share. Cigna Group's revenue for the quarter 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 fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a $1.56 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.3%. Cigna Group's dividend payout ratio (DPR) is currently 26.45%.

Cigna Group 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.

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.