The Manufacturers Life Insurance Company Sells 28,542 Shares of Cigna Group $CI

Key Points

• The Manufacturers Life Insurance Company reduced its Cigna stake by 3.2% in the second quarter, selling 28,542 shares. It still owned 875,333 shares valued at approximately $241.3 million, while institutional investors held 86.99% of Cigna’s stock.
• Cigna reported quarterly earnings of $7.78 per share, beating estimates of $7.60, while revenue rose 6.7% year over year to $70.04 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $337.10.
• Cigna declared a quarterly dividend of $1.56 per share, equivalent to $6.24 annually and a 2.2% yield. Company insiders sold 22,730 shares worth roughly $6.3 million during the latest quarter.

The Manufacturers Life Insurance Company trimmed its stake in Cigna Group (NYSE:CI - Free Report) by 3.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 875,333 shares of the health services provider's stock after selling 28,542 shares during the period. The Manufacturers Life Insurance Company owned 0.33% of Cigna Group worth $241,312,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Wilkerson Advisory Group LLC bought a new stake in Cigna Group during the 4th quarter valued at approximately $25,000. Osbon Capital Management LLC bought a new position in shares of Cigna Group in the 2nd quarter worth approximately $26,000. Johnson Financial Group Inc. purchased a new position in shares of Cigna Group in the 2nd quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new stake in shares of Cigna Group during the fourth quarter valued at approximately $29,000. Finally, Prosperity Bancshares Inc bought a new stake in shares of Cigna Group during the fourth quarter valued at approximately $29,000. Institutional investors own 86.99% of the company's stock.

Insider Buying and Selling

In related news, insider Nicole S. Jones sold 2,677 shares of Cigna Group stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total value of $748,515.97. Following the completion of the sale, the insider owned 25,880 shares of the company's stock, valued at $7,236,306.80. The trade was a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Everett Neville sold 617 shares of the company's stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $284.05, for a total value of $175,258.85. Following the sale, the insider owned 5,053 shares of the company's stock, valued at approximately $1,435,304.65. This trade represents a 10.88% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,730 shares of company stock valued at $6,293,359 over the last quarter. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CI. Evercore initiated coverage on Cigna Group in a report on Wednesday. They issued an "in-line" rating and a $290.00 price objective for the company. Jefferies Financial Group cut shares of Cigna Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $336.00 to $307.00 in a report on Tuesday, August 4th. Sanford C. Bernstein increased their price target on shares of Cigna Group from $371.00 to $381.00 and gave the stock an "outperform" rating in a research note on Thursday, July 9th. Wall Street Zen raised shares of Cigna Group from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, Barclays boosted their price objective on shares of Cigna Group from $304.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Friday, July 31st. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $337.10.

Cigna Group Stock Up 0.8%

CI stock opened at $280.32 on Friday. Cigna Group has a 1-year low of $239.51 and a 1-year high of $315.47. The business has a fifty day moving average price of $283.45 and a 200-day moving average price of $280.78. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $74.07 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.96 and a beta of 0.31.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $70.14 billion. During the same period last year, the firm posted $7.20 earnings per share. Cigna Group's revenue was up 6.7% compared to the same quarter last year. Cigna Group has set its FY 2026 guidance at 30.450- EPS. Equities analysts forecast that Cigna Group will post 30.51 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

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

Cigna Group Profile

The Cigna Group NYSE: CI is a global health services company that helps individuals, employers, health plans and government organizations access health care and related services. The company operates primarily through two businesses: Cigna Healthcare, which provides medical, behavioral health, dental and other health benefit products and services, and Evernorth Health Services, which offers pharmacy, care delivery and health benefits solutions.

Evernorth includes Express Scripts, a pharmacy benefit services provider that manages prescription drug benefits and operates home delivery and specialty pharmacy services.

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