Payden & Rygel Sells 9,800 Shares of Cigna Group $CI

Key Points

• Payden & Rygel cut its Cigna stake by 25.3% in the fourth quarter, selling 9,800 shares and leaving it with 29,000 shares valued at about $7.98 million.
• Cigna reported stronger-than-expected quarterly results, posting EPS of $7.79 versus the $7.60 estimate and revenue of $68.52 billion, up 4.6% year over year.
• The company remains a dividend payer and analyst favorite, with a quarterly dividend of $1.56 per share yielding about 2.2% and Wall Street holding a consensus “Moderate Buy” rating with a $338.35 target price.

Payden & Rygel reduced its holdings in shares of Cigna Group (NYSE:CI - Free Report) by 25.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,000 shares of the health services provider's stock after selling 9,800 shares during the quarter. Payden & Rygel's holdings in Cigna Group were worth $7,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CI. OLD National Bancorp IN raised its holdings in Cigna Group by 3.7% during the 4th quarter. OLD National Bancorp IN now owns 1,031 shares of the health services provider's stock valued at $284,000 after acquiring an additional 37 shares during the period. Leavell Investment Management Inc. boosted its holdings in shares of Cigna Group by 3.8% in the third quarter. Leavell Investment Management Inc. now owns 1,103 shares of the health services provider's stock worth $318,000 after acquiring an additional 40 shares during the period. Physician Wealth Advisors Inc. grew its position in shares of Cigna Group by 1.5% in the third quarter. Physician Wealth Advisors Inc. now owns 2,712 shares of the health services provider's stock valued at $782,000 after purchasing an additional 41 shares in the last quarter. Cookson Peirce & Co. Inc. raised its stake in shares of Cigna Group by 0.8% during the 3rd quarter. Cookson Peirce & Co. Inc. now owns 4,953 shares of the health services provider's stock valued at $1,428,000 after purchasing an additional 41 shares during the period. Finally, Signet Financial Management LLC raised its stake in shares of Cigna Group by 0.6% during the 3rd quarter. Signet Financial Management LLC now owns 7,459 shares of the health services provider's stock valued at $2,150,000 after purchasing an additional 41 shares during the period. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Cigna Group

In other Cigna Group news, insider Nicole S. Jones sold 2,307 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $288.91, for a total value of $666,515.37. Following the sale, the insider owned 32,647 shares of the company's stock, valued at $9,432,044.77. This trade represents a 6.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Everett Neville sold 1,719 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $288.91, for a total transaction of $496,636.29. Following the completion of the transaction, the insider owned 5,670 shares in the company, valued at $1,638,119.70. The trade was a 23.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 205,904 shares of company stock valued at $60,277,068 in the last quarter. Company insiders own 0.60% of the company's stock.

Cigna Group Trading Up 0.3%

Shares of CI stock opened at $286.14 on Tuesday. The business has a 50-day moving average of $275.05 and a 200 day moving average of $275.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.73 and a quick ratio of 0.73. Cigna Group has a 1-year low of $239.51 and a 1-year high of $338.89. The stock has a market capitalization of $75.69 billion, a PE ratio of 12.13, a P/E/G ratio of 1.00 and a beta of 0.30.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 earnings per share for the quarter, beating the consensus estimate of $7.60 by $0.19. The firm had revenue of $68.52 billion during the quarter, compared to the consensus estimate of $66.29 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.The business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.74 earnings per share. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors 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 2.2%. The ex-dividend date is Thursday, June 4th. Cigna Group's dividend payout ratio is currently 26.45%.

Wall Street Analyst Weigh In

Several research analysts have commented on CI shares. TD Cowen raised their target price on Cigna Group from $333.00 to $338.00 and gave the stock a "buy" rating in a research note on Monday, February 9th. Wells Fargo & Company upped their price target on Cigna Group from $300.00 to $305.00 and gave the company an "equal weight" rating in a research report on Friday, May 1st. UBS Group reissued a "buy" rating and issued a $375.00 price target on shares of Cigna Group in a report on Monday, February 9th. Guggenheim raised their price objective on shares of Cigna Group from $334.00 to $338.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of Cigna Group from $333.00 to $337.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $338.35.

About Cigna Group

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.