California Public Employees Retirement System Sells 36,805 Shares of The Cigna Group (NYSE:CI)

California Public Employees Retirement System decreased its position in The Cigna Group (NYSE:CI - Free Report) by 4.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 791,147 shares of the health services provider's stock after selling 36,805 shares during the quarter. California Public Employees Retirement System owned about 0.28% of The Cigna Group worth $218,467,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. TCTC Holdings LLC acquired a new stake in The Cigna Group in the 4th quarter worth about $25,000. Collier Financial bought a new position in shares of The Cigna Group during the fourth quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group during the fourth quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Heck Capital Advisors LLC bought a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $53,000. Institutional investors own 86.99% of the company's stock.

The Cigna Group Price Performance

Shares of NYSE CI traded down $16.43 during mid-day trading on Friday, hitting $322.02. 3,800,885 shares of the stock traded hands, compared to its average volume of 1,666,803. The company has a market cap of $88.13 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 0.98 and a beta of 0.50. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The firm has a 50 day simple moving average of $308.72 and a two-hundred day simple moving average of $313.00. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate 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 firm posted $6.79 earnings per share. As a group, equities research analysts forecast that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a $1.51 dividend. This is a positive change 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 ex-dividend date was Wednesday, March 5th. The Cigna Group's dividend payout ratio is currently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of the business's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the transaction, the chief executive officer now owns 127,767 shares in the company, valued at $39,367,568.04. The trade was a 17.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CI. Stephens dropped their price objective 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. Oppenheimer dropped their price target on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a research note on Friday, January 31st. Truist Financial cut their price objective on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, February 4th. Piper Sandler reissued an "overweight" rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Finally, Barclays dropped their target price on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $373.25.

The Cigna Group Company Profile

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.