Norges Bank Makes New $1.02 Billion Investment in Cigna Group $CI

Norges Bank bought a new position in Cigna Group (NYSE:CI) during the 4th quarter, Holdings Channel.com reports. The fund bought 3,705,227 shares of the health services provider’s stock, valued at approximately $1,019,790,000.

Several other hedge funds have also recently modified their holdings of CI. Beacon Financial Strategies CORP purchased a new position in shares of Cigna Group in the fourth quarter worth $28,000. Lodestone Wealth Management LLC purchased a new position in shares of Cigna Group in the fourth quarter worth $32,000. Collier Financial purchased a new position in shares of Cigna Group in the third quarter worth $34,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Cigna Group by 147.3% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 136 shares of the health services provider’s stock worth $37,000 after buying an additional 81 shares in the last quarter. Finally, Activest Wealth Management lifted its holdings in shares of Cigna Group by 1,050.0% in the fourth quarter. Activest Wealth Management now owns 138 shares of the health services provider’s stock worth $38,000 after buying an additional 126 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In other news, 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 sale, the chief executive officer 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Nicole S. Jones sold 2,307 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $288.91, for a total transaction of $666,515.37. Following the completion of the sale, the insider directly owned 32,647 shares in the company, valued at approximately $9,432,044.77. This represents a 6.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 205,904 shares of company stock valued at $60,277,068. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CI has been the topic of several research analyst reports. Truist Financial boosted their target price on shares of Cigna Group from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. Mizuho set a $330.00 target price on shares of Cigna Group in a report on Friday, May 1st. Leerink Partners boosted their target price on shares of Cigna Group from $270.00 to $297.00 and gave the stock a “market perform” rating in a report on Friday, February 6th. Wells Fargo & Company boosted their target price on shares of Cigna Group from $300.00 to $305.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Guggenheim boosted their target price on shares of Cigna Group from $334.00 to $338.00 and gave the stock a “buy” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $339.50.

Cigna Group Price Performance

Cigna Group stock opened at $277.08 on Friday. The company has a market cap of $73.30 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.00 and a beta of 0.30. The firm’s fifty day moving average is $278.32 and its 200 day moving average is $276.88. 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 has a 52-week low of $239.51 and a 52-week high of $338.89.

Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, April 30th. The health services provider reported $7.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.60 by $0.19. Cigna Group had a net margin of 2.26% and a return on equity of 19.75%. The company had revenue of $68.52 billion for the quarter, compared to the consensus estimate of $66.29 billion. During the same quarter in the prior year, the firm earned $6.74 earnings per share. Cigna Group’s revenue was up 4.6% on a year-over-year basis. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Sell-side analysts forecast that Cigna Group will post 30.39 EPS for the current fiscal year.

Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th will be paid a $1.56 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $6.24 annualized dividend and a dividend yield of 2.3%. Cigna Group’s dividend payout ratio is currently 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.