Saudi Central Bank Has $32.46 Million Holdings in Cigna Group $CI

Key Points

• Saudi Central Bank increased its Cigna stake by 8% in the second quarter to 115,702 shares valued at approximately $32.46 million. Institutional investors own 86.99% of Cigna’s outstanding stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $339.45, despite recent downgrades from Jefferies and Deutsche Bank.
• Cigna exceeded quarterly earnings expectations, reporting $7.78 in adjusted EPS and 6.7% year-over-year revenue growth. The company also declared a quarterly dividend of $1.56 per share, representing a 2.2% yield.

Saudi Central Bank lifted its stake in shares of Cigna Group (NYSE:CI - Free Report) by 8.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,702 shares of the health services provider's stock after acquiring an additional 8,596 shares during the quarter. Saudi Central Bank's holdings in Cigna Group were worth $32,458,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. GQG Partners LLC acquired a new position in Cigna Group in the 2nd quarter valued at $1,628,918,000. Norges Bank acquired a new position in Cigna Group during the 4th quarter worth $1,019,790,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Cigna Group by 13,333.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,165,408 shares of the health services provider's stock valued at $900,912,000 after acquiring an additional 3,141,844 shares during the period. Bank of America Corp DE acquired a new stake in shares of Cigna Group in the second quarter valued at about $827,692,000. Finally, Legal & General Group Plc acquired a new stake in shares of Cigna Group in the second quarter valued at about $542,779,000. 86.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Cigna Group

In related news, insider Nicole S. Jones sold 2,677 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the completion of the transaction, the insider owned 25,880 shares in the company, valued at $7,236,306.80. This trade represents a 9.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $298.61, for a total transaction of $268,450.39. Following the completion of the sale, the chief accounting officer owned 2,368 shares in the company, valued at $707,108.48. This represents a 27.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 23,012 shares of company stock worth $6,386,550 in the last three months. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Jefferies Financial Group cut Cigna Group from a "buy" rating to a "hold" rating and cut their price objective for the stock from $336.00 to $307.00 in a research report on Tuesday, August 4th. Piper Sandler lowered their target price on Cigna Group from $370.00 to $346.00 and set an "overweight" rating on the stock in a report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft downgraded Cigna Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $303.00 to $302.00 in a research report on Wednesday, May 20th. Morgan Stanley increased their price objective on Cigna Group from $355.00 to $361.00 and gave the company an "overweight" rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Cigna Group in a research note on Thursday, August 27th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $339.45.

Cigna Group Stock Down 1.4%

CI stock opened at $282.24 on Friday. Cigna Group has a twelve month low of $239.51 and a twelve month high of $315.47. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. The company has a market cap of $74.58 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 0.97 and a beta of 0.31. The business's 50-day simple moving average is $283.51 and its 200 day simple moving average is $281.07.

Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, topping analysts' consensus estimates of $7.60 by $0.18. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%.The company had revenue of $70.04 billion during the quarter, compared to the consensus estimate of $70.14 billion. During the same quarter last year, the company earned $7.20 EPS. The company's quarterly revenue was up 6.7% on a year-over-year basis. Cigna Group has set its FY 2026 guidance at 30.450- EPS. On average, research analysts anticipate that Cigna Group will post 30.51 earnings per share for the current year.

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 8th will be issued a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 8th. Cigna Group's payout ratio is 25.82%.

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.

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