Renaissance Technologies LLC Raises Stock Position in Cigna Group $CI

Renaissance Technologies LLC grew its stake in shares of Cigna Group (NYSE:CI) by 368.6% in the first quarter, Holdings Channel.com reports. The fund owned 218,939 shares of the health services provider’s stock after purchasing an additional 172,219 shares during the period. Renaissance Technologies LLC’s holdings in Cigna Group were worth $58,402,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. raised its position in Cigna Group by 10.0% during the first quarter. Assetmark Inc. now owns 65,662 shares of the health services provider’s stock worth $17,515,000 after acquiring an additional 5,963 shares during the last quarter. apricus wealth LLC grew its position in shares of Cigna Group by 715.9% in the fourth quarter. apricus wealth LLC now owns 9,505 shares of the health services provider’s stock valued at $2,616,000 after purchasing an additional 8,340 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cigna Group by 3.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 105,534 shares of the health services provider’s stock valued at $29,046,000 after purchasing an additional 3,814 shares during the last quarter. OFI Invest Asset Management raised its position in shares of Cigna Group by 8,357.8% during the 4th quarter. OFI Invest Asset Management now owns 33,070 shares of the health services provider’s stock worth $9,102,000 after purchasing an additional 32,679 shares during the last quarter. Finally, Polianta Ltd purchased a new stake in Cigna Group in the 4th quarter valued at approximately $1,568,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Analyst Ratings Changes

CI has been the subject of several recent research reports. Piper Sandler dropped their price target on Cigna Group from $370.00 to $346.00 and set an “overweight” rating for the company in a research report on Wednesday, June 3rd. Jefferies Financial Group decreased their price objective on Cigna Group from $333.00 to $330.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Royal Bank Of Canada lifted their price objective on Cigna Group from $333.00 to $337.00 and gave the stock an “outperform” rating in a research report on Friday, May 1st. UBS Group boosted their target price on shares of Cigna Group from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $315.00 price target on shares of Cigna Group in a research note on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $338.80.

Insider Activity at Cigna Group

In other Cigna Group news, CEO David Cordani sold 201,878 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the transaction, the chief executive officer owned 34,337 shares of the company’s stock, valued at $10,054,560.34. This trade represents a 85.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 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 completion of the transaction, the chief accounting officer owned 2,368 shares in the company, valued at approximately $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. Corporate insiders own 0.60% of the company’s stock.

Cigna Group Price Performance

CI stock opened at $290.06 on Monday. The stock has a market capitalization of $76.73 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 1.12 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 has a 52-week low of $239.51 and a 52-week high of $315.47. The stock’s fifty day simple moving average is $286.05 and its 200-day simple moving average is $280.76.

Cigna Group (NYSE:CI) last released its 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. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.The firm had revenue of $68.52 billion for the quarter, compared to the consensus estimate of $66.29 billion. During the same period in the prior year, the business posted $6.74 earnings per share. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Equities research analysts expect that Cigna Group will post 30.39 EPS for the current year.

Cigna Group Announces Dividend

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