SEB Asset Management AB Purchases Shares of 82,885 Cigna Group $CI

Key Points

• SEB Asset Management AB initiated a new position in Cigna Group during the first quarter, buying 82,885 shares valued at about $22.1 million.
• Analyst sentiment remains broadly positive, with a Moderate Buy consensus and an average price target of $338.80, even as some firms raised or lowered their targets recently.
• Cigna reported strong quarterly results, with EPS of $7.79 beating estimates and revenue of $68.52 billion topping expectations; the company also pays a quarterly dividend of $1.56 per share for a 2.2% yield.

SEB Asset Management AB purchased a new stake in Cigna Group (NYSE:CI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 82,885 shares of the health services provider's stock, valued at approximately $22,110,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilkerson Advisory Group LLC bought a new position in shares of Cigna Group during the 4th quarter worth approximately $25,000. Beacon Financial Strategies CORP acquired a new stake in Cigna Group in the fourth quarter valued at approximately $28,000. Cedar Mountain Advisors LLC boosted its stake in Cigna Group by 161.9% in the first quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider's stock valued at $29,000 after acquiring an additional 68 shares in the last quarter. Kemnay Advisory Services Inc. purchased a new position in Cigna Group in the fourth quarter worth $29,000. Finally, Prosperity Bancshares Inc purchased a new position in Cigna Group in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CI. Sanford C. Bernstein increased their price objective on Cigna Group from $371.00 to $381.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. Piper Sandler dropped their target price on Cigna Group from $370.00 to $346.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 3rd. Raymond James Financial set a $340.00 target price on Cigna Group in a research report on Friday, May 1st. Royal Bank Of Canada increased their price target on Cigna Group from $333.00 to $337.00 and gave the company an "outperform" rating in a research note on Friday, May 1st. Finally, Wells Fargo & Company raised their price target on Cigna Group from $300.00 to $305.00 and gave the stock an "equal weight" rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $338.80.

Cigna Group Trading Up 0.1%

Shares of NYSE:CI opened at $281.72 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.69. Cigna Group has a 12-month low of $239.51 and a 12-month high of $315.47. The business has a 50 day moving average of $286.68 and a two-hundred day moving average of $280.43. The company has a market capitalization of $74.52 billion, a PE ratio of 11.94, a PEG ratio of 1.08 and a beta of 0.29.

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 business had revenue of $68.52 billion for the quarter, compared to analysts' expectations of $66.29 billion. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. The business's revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the company earned $6.74 EPS. Cigna Group has set its FY 2026 guidance at 30.350- EPS. As a group, analysts forecast that Cigna Group will post 30.39 EPS for the current year.

Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a dividend of $1.56 per share. This represents a $6.24 annualized dividend and a yield of 2.2%. The ex-dividend date was Thursday, June 4th. Cigna Group's dividend payout ratio (DPR) is currently 26.45%.

Insiders Place Their Bets

In other news, CEO David Cordani sold 201,878 shares of the stock in a transaction dated 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 directly owned 34,337 shares of the company's stock, valued at $10,054,560.34. This represents a 85.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $298.61, for a total value of $268,450.39. Following the sale, the chief accounting officer owned 2,368 shares in the company, valued at $707,108.48. This trade represents a 27.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.60% of the stock is currently owned by insiders.

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.

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.