Convergence Investment Partners LLC Acquires 3,095 Shares of Cigna Group $CI

Convergence Investment Partners LLC lifted its stake in shares of Cigna Group (NYSE:CI) by 43.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,193 shares of the health services provider’s stock after buying an additional 3,095 shares during the period. Convergence Investment Partners LLC’s holdings in Cigna Group were worth $2,719,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Wilkerson Advisory Group LLC acquired a new stake in Cigna Group in the fourth quarter worth $25,000. Beacon Financial Strategies CORP bought a new stake in Cigna Group in the fourth quarter valued at $28,000. Kemnay Advisory Services Inc. acquired a new position in shares of Cigna Group during the fourth quarter valued at about $29,000. Prosperity Bancshares Inc bought a new position in shares of Cigna Group during the 4th quarter worth about $29,000. Finally, Cedar Mountain Advisors LLC boosted its position in shares of Cigna Group by 161.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock worth $29,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling

In related news, CEO David Cordani sold 201,878 shares of the stock in a transaction that occurred 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 completion of 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. 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, CAO Jamie G. Kates sold 899 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $298.61, for a total value of $268,450.39. Following the completion of the transaction, the chief accounting officer directly owned 2,368 shares in the company, valued at approximately $707,108.48. This represents a 27.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CI. Wolfe Research reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Cigna Group in a research report on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft lowered Cigna Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $303.00 to $302.00 in a report on Wednesday, May 20th. UBS Group raised their price objective on Cigna Group from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Piper Sandler decreased their price objective 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, Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a report on Monday, June 1st. One 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $338.80.

Cigna Group Stock Up 0.9%

CI opened at $284.01 on Tuesday. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $315.47. The firm has a market capitalization of $75.13 billion, a P/E ratio of 12.04, a PEG ratio of 1.08 and a beta of 0.29. The company’s 50-day moving average is $286.59 and its 200 day moving average is $280.48. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.73 and a quick ratio of 0.73.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.74 EPS. Cigna Group has set its FY 2026 guidance at 30.350- EPS. Research analysts expect that Cigna Group will post 30.39 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a $1.56 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $6.24 annualized dividend and a dividend yield of 2.2%. 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.