OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 12,320 Cigna Group $CI

OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Cigna Group (NYSE:CI) during the second quarter, Holdings Channel.com reports. The fund purchased 12,320 shares of the health services provider’s stock, valued at approximately $3,405,000.

Several other hedge funds have also recently modified their holdings of CI. Wilkerson Advisory Group LLC purchased a new position in shares of Cigna Group in the 4th quarter valued at approximately $25,000. Cedar Mountain Advisors LLC grew its position in 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 during the last quarter. Johnson Financial Group Inc. purchased a new stake in Cigna Group during the 2nd quarter worth approximately $29,000. Kemnay Advisory Services Inc. acquired a new position in Cigna Group during the 4th quarter valued at approximately $29,000. Finally, Prosperity Bancshares Inc acquired a new position in Cigna Group during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Cigna Group Stock Performance

Shares of CI stock opened at $274.50 on Friday. The stock has a market cap of $72.53 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.95 and a beta of 0.29. The business has a 50-day simple moving average of $284.63 and a 200-day simple moving average of $281.41. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.68. Cigna Group has a 52-week low of $239.51 and a 52-week high of $315.47.

Cigna Group (NYSE:CI) last issued its earnings results on Thursday, July 30th. The health services provider reported $7.78 EPS for the quarter, topping analysts’ consensus estimates of $7.60 by $0.18. The firm had revenue of $70.04 billion for the quarter, compared to the consensus estimate of $70.14 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.27%.The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $7.20 earnings per share. Cigna Group has set its FY 2026 guidance at 30.450- EPS. On average, equities analysts expect that Cigna Group will post 30.51 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Tuesday, September 8th will be given a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 8th. Cigna Group’s dividend payout ratio is currently 25.82%.

Insider Buying and Selling

In related news, CAO Jamie G. Kates sold 899 shares of the business’s stock in a transaction on Friday, June 12th. The shares were 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 $707,108.48. The trade was a 27.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicole S. Jones sold 2,677 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $279.61, for a total transaction of $748,515.97. Following the sale, the insider directly owned 25,880 shares in the company, valued at $7,236,306.80. This trade represents a 9.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 23,012 shares of company stock worth $6,386,550 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CI shares. Barclays lifted their price objective on shares of Cigna Group from $304.00 to $310.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Morgan Stanley upped their target price on Cigna Group from $355.00 to $361.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Guggenheim raised their target price on Cigna Group from $338.00 to $361.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Jefferies Financial Group cut Cigna Group from a “buy” rating to a “hold” rating and lowered their price target for the stock from $336.00 to $307.00 in a research report on Tuesday, August 4th. Finally, Wolfe Research reiterated an “outperform” rating and set a $315.00 price target on shares of Cigna Group in a research note on Tuesday, June 16th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.45.

About Cigna Group

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.