Resona Asset Management Co. Ltd. Boosts Stock Holdings in Cigna Group $CI

Resona Asset Management Co. Ltd. grew its holdings in Cigna Group (NYSE:CI) by 2.8% in the 1st quarter, HoldingsChannel reports. The firm owned 89,074 shares of the health services provider’s stock after buying an additional 2,445 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Cigna Group were worth $23,620,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CI. Norges Bank purchased a new position in Cigna Group during the fourth quarter valued at approximately $1,019,790,000. Northwestern Mutual Wealth Management Co. raised its stake in Cigna Group by 13,333.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,165,408 shares of the health services provider’s stock worth $900,912,000 after buying an additional 3,141,844 shares in the last quarter. Dodge & Cox lifted its holdings in Cigna Group by 19.7% during the fourth quarter. Dodge & Cox now owns 11,138,614 shares of the health services provider’s stock worth $3,065,681,000 after buying an additional 1,833,389 shares during the period. Boston Partners lifted its holdings in Cigna Group by 314.6% during the fourth quarter. Boston Partners now owns 1,638,191 shares of the health services provider’s stock worth $450,856,000 after buying an additional 1,243,056 shares during the period. Finally, GQG Partners LLC increased its holdings in shares of Cigna Group by 14.3% in the 4th quarter. GQG Partners LLC now owns 7,763,295 shares of the health services provider’s stock valued at $2,136,699,000 after acquiring an additional 972,302 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Transactions at Cigna Group

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

Cigna Group Trading Up 0.5%

Shares of Cigna Group stock opened at $291.32 on Friday. The firm’s 50 day simple moving average is $285.64 and its two-hundred day simple moving average is $279.64. The firm has a market capitalization of $77.06 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 1.12 and a beta of 0.29. Cigna Group has a 12-month low of $239.51 and a 12-month high of $315.47. 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 (NYSE:CI) last posted its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, topping the consensus estimate of $7.60 by $0.19. The business 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 business’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.74 earnings per share. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Analysts predict 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. Shareholders of record on Thursday, June 4th were given 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 yield of 2.1%. Cigna Group’s payout ratio is currently 26.45%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group reduced their price target on Cigna Group from $333.00 to $330.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Royal Bank Of Canada raised their price objective on Cigna Group from $333.00 to $337.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. Piper Sandler reduced their target price on shares of Cigna Group from $370.00 to $346.00 and set an “overweight” rating for the company in a report on Wednesday, June 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Cigna Group in a research report on Monday, June 1st. Finally, Wolfe Research reissued an “outperform” rating and set a $315.00 price target on shares of Cigna Group in a research report on Tuesday, June 16th. One equities research 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.com, Cigna Group currently has a consensus rating of “Moderate Buy” and an average target price of $338.80.

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.