The Cigna Group (NYSE:CI) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in The Cigna Group (NYSE:CI - Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,144 shares of the health services provider's stock after selling 1,711 shares during the quarter. 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 also recently bought and sold shares of the business. TCTC Holdings LLC purchased a new position in shares of The Cigna Group in the 4th quarter valued at about $25,000. Prospera Private Wealth LLC acquired a new position in The Cigna Group in the third quarter valued at approximately $37,000. Collier Financial purchased a new position in The Cigna Group in the fourth quarter valued at approximately $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group during the fourth quarter worth approximately $34,000. Finally, Compagnie Lombard Odier SCmA purchased a new stake in shares of The Cigna Group during the 4th quarter worth approximately $37,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CI shares. Truist Financial dropped their target price on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. Oppenheimer cut their target price on The Cigna Group from $400.00 to $375.00 and set an "outperform" rating on the stock in a research report on Friday, January 31st. Stephens reduced their target price 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, StockNews.com upgraded The Cigna Group from a "hold" rating to a "buy" rating in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of "Buy" and an average target price of $373.25.

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Insider Activity

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the transaction, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total value of $3,182,080.00. Following the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This trade represents a 42.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,751 shares of company stock valued at $13,603,991 in the last three months. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Stock Performance

NYSE:CI traded down $3.76 during midday trading on Tuesday, reaching $316.64. The stock had a trading volume of 1,172,135 shares, compared to its average volume of 1,564,847. The stock has a market cap of $86.66 billion, a P/E ratio of 25.87, a P/E/G ratio of 0.98 and a beta of 0.53. 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 fifty day simple moving average of $301.62 and a two-hundred day simple moving average of $314.45.

The Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results 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 net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the company posted $6.79 earnings per share. On average, equities analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th were paid a dividend of $1.51 per share. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. This is an increase from The Cigna Group's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Wednesday, March 5th. The Cigna Group's dividend payout ratio is 49.35%.

The Cigna Group 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.