Assetmark Inc. Raises Stock Position in Cigna Group $CI

Assetmark Inc. grew its stake in shares of Cigna Group (NYSE:CI) by 10.0% in the first quarter, Holdings Channel.com reports. The fund owned 65,662 shares of the health services provider’s stock after purchasing an additional 5,963 shares during the period. Assetmark Inc.’s holdings in Cigna Group were worth $17,515,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Cigna Group by 9.3% during the 4th quarter. Brighton Jones LLC now owns 3,736 shares of the health services provider’s stock worth $1,032,000 after buying an additional 318 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Cigna Group by 10.4% in the 2nd quarter. Sivia Capital Partners LLC now owns 1,160 shares of the health services provider’s stock worth $384,000 after buying an additional 109 shares in the last quarter. NewEdge Advisors LLC grew its stake in Cigna Group by 4.5% in the 2nd quarter. NewEdge Advisors LLC now owns 22,225 shares of the health services provider’s stock valued at $7,347,000 after acquiring an additional 958 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Cigna Group by 16.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 148,840 shares of the health services provider’s stock valued at $49,204,000 after acquiring an additional 21,173 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in Cigna Group during the 2nd quarter valued at about $163,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

CI has been the topic of several recent research reports. Wells Fargo & Company upped their price target on shares of Cigna Group from $300.00 to $305.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Barclays downgraded Cigna Group from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $310.00 to $304.00 in a research report on Tuesday, May 26th. Raymond James Financial set a $340.00 target price on Cigna Group in a research note on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a report on Monday, June 1st. Finally, Morgan Stanley raised their price target on Cigna Group from $355.00 to $361.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $338.80.

Insider Transactions at Cigna Group

In other Cigna Group news, CAO Jamie G. Kates sold 899 shares of Cigna Group stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 2,368 shares of the company’s stock, valued at $707,108.48. The trade was a 27.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David Cordani sold 201,878 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was 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 approximately $10,054,560.34. This trade 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 currently owned by insiders.

Cigna Group Price Performance

Shares of NYSE:CI opened at $281.72 on Monday. The company has a market cap of $74.52 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.08 and a beta of 0.29. The business has a fifty day simple moving average of $286.68 and a 200-day simple moving average of $280.43. Cigna Group has a 52 week low of $239.51 and a 52 week high of $315.47. 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 earnings results on Thursday, April 30th. The health services provider reported $7.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.60 by $0.19. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. The business had revenue of $68.52 billion for the quarter, compared to analysts’ expectations of $66.29 billion. During the same period last year, the company earned $6.74 earnings per share. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Equities research analysts forecast that Cigna Group will post 30.39 EPS for the current year.

Cigna Group Dividend Announcement

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

Cigna Group 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.