Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $16.33 Million Position in The Cigna Group (NYSE:CI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in The Cigna Group (NYSE:CI) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,144 shares of the health services provider’s stock after selling 1,711 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in The Cigna Group were worth $16,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CI. TCTC Holdings LLC acquired a new position in shares of The Cigna Group in the 4th quarter worth approximately $25,000. Collier Financial acquired a new stake in The Cigna Group in the 4th quarter valued at $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the fourth quarter valued at $34,000. Prospera Private Wealth LLC acquired a new position in The Cigna Group during the third quarter worth $37,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the fourth quarter valued at $37,000. Institutional investors own 86.99% of the company’s stock.

Insider Buying and Selling

In other news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares of the company’s stock, valued at $4,289,920. This trade represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the company’s stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total transaction of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares of the company’s stock, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last three months. Company insiders own 0.60% of the company’s stock.

The Cigna Group Price Performance

Shares of CI stock opened at $321.34 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm has a market cap of $87.94 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 0.98 and a beta of 0.53. The stock has a 50-day moving average price of $300.07 and a 200 day moving average price of $315.72.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the company earned $6.79 EPS. Research analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a dividend of $1.51 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The Cigna Group’s payout ratio is 49.35%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CI. StockNews.com raised shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Royal Bank of Canada set a $355.00 price objective on shares of The Cigna Group in a research note on Friday, January 31st. Cantor Fitzgerald lifted their target price on shares of The Cigna Group from $350.00 to $365.00 and gave the company an “overweight” rating in a research note on Thursday. Stephens dropped their price target on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, Sanford C. Bernstein downgraded The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $373.25.

About The Cigna Group

The Cigna Group, together with its subsidiaries, provides insurance and related products and services in the United States. Its Evernorth Health Services segment provides a range of coordinated and point solution health services, including pharmacy benefits, home delivery pharmacy, specialty pharmacy, distribution, and care delivery and management solutions to health plans, employers, government organizations, and health care providers.