Cigna Group $CI Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Cigna Group (NYSE:CI) by 2.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,688,636 shares of the health services provider’s stock after purchasing an additional 37,468 shares during the period. Bank of New York Mellon Corp owned about 0.64% of Cigna Group worth $450,443,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wilkerson Advisory Group LLC acquired a new position in shares of Cigna Group in the 4th quarter valued at $25,000. Beacon Financial Strategies CORP purchased a new stake in Cigna Group during the fourth quarter worth $28,000. Cedar Mountain Advisors LLC grew its position in Cigna Group by 161.9% during the first quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock valued at $29,000 after buying an additional 68 shares during the period. Kemnay Advisory Services Inc. acquired a new stake in Cigna Group during the fourth quarter valued at $29,000. Finally, Prosperity Bancshares Inc purchased a new position in Cigna Group in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, CAO Jamie G. Kates sold 899 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was 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 directly owned 2,368 shares in the company, valued at approximately $707,108.48. The trade was a 27.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Cordani sold 201,878 shares of the 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 directly owned 34,337 shares of the company’s stock, valued at approximately $10,054,560.34. This represents a 85.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on CI shares. Guggenheim upped their price objective on shares of Cigna Group from $334.00 to $338.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Mizuho raised their target price on Cigna Group from $330.00 to $340.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Wall Street Zen upgraded Cigna Group from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Piper Sandler reduced their price target on Cigna Group from $370.00 to $346.00 and set an “overweight” rating for the company in a report on Wednesday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded Cigna Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $303.00 to $302.00 in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $338.80.

Cigna Group Stock Down 5.0%

Shares of NYSE CI opened at $283.06 on Friday. The company’s 50-day simple moving average is $286.81 and its 200-day simple moving average is $280.39. Cigna Group has a 52-week low of $239.51 and a 52-week high of $315.47. The firm has a market cap of $74.88 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.15 and a beta of 0.29. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.69.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, April 30th. The health services provider reported $7.79 earnings per share for the quarter, topping 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 net margin of 2.26% and a return on equity of 19.75%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.74 EPS. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Equities analysts predict that Cigna Group will post 30.39 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th were issued a dividend of $1.56 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $6.24 dividend on an annualized basis and a dividend yield of 2.2%. Cigna Group’s dividend payout ratio is presently 26.45%.

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.