Employees Retirement System of Texas Raises Stock Position in The Cigna Group (NYSE:CI)

Employees Retirement System of Texas increased its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 19.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 35,432 shares of the health services provider's stock after acquiring an additional 5,867 shares during the period. Employees Retirement System of Texas' holdings in The Cigna Group were worth $9,784,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Prospector Partners LLC boosted its stake in shares of The Cigna Group by 0.3% during the fourth quarter. Prospector Partners LLC now owns 41,135 shares of the health services provider's stock valued at $11,359,000 after purchasing an additional 117 shares during the period. Lyrical Asset Management LP boosted its position in The Cigna Group by 0.4% in the 4th quarter. Lyrical Asset Management LP now owns 807,649 shares of the health services provider's stock valued at $223,024,000 after buying an additional 3,183 shares during the period. Perennial Investment Advisors LLC grew its stake in The Cigna Group by 6.4% in the 4th quarter. Perennial Investment Advisors LLC now owns 971 shares of the health services provider's stock worth $268,000 after acquiring an additional 58 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in shares of The Cigna Group by 3.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,478,767 shares of the health services provider's stock worth $408,347,000 after acquiring an additional 55,839 shares during the period. Finally, Rhenman & Partners Asset Management AB raised its stake in shares of The Cigna Group by 88.0% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 78,385 shares of the health services provider's stock valued at $21,645,000 after acquiring an additional 36,700 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

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The Cigna Group Price Performance

CI stock traded up $2.25 during mid-day trading on Friday, reaching $329.52. 1,727,459 shares of the company's stock were exchanged, compared to its average volume of 1,689,887. The company has a market cap of $90.18 billion, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 0.98 and a beta of 0.51. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. The stock's 50 day moving average is $312.04 and its 200 day moving average is $311.31. 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 Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 last year, the firm posted $6.79 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. 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 yield of 1.83%. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Wall Street Analyst Weigh In

Several research firms have commented on CI. Guggenheim began coverage on The Cigna Group in a report on Wednesday. They set a "buy" rating and a $384.00 price objective on the stock. Piper Sandler restated an "overweight" rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Truist Financial upped their price target on shares of The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a research note on Friday. StockNews.com raised The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday. Finally, Sanford C. Bernstein downgraded shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target on the stock. in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $375.00.

Insider Buying and Selling

In other news, insider Nicole S. Jones sold 4,904 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the transaction, the insider now directly owns 29,421 shares in the company, valued at $9,065,198.52. The trade was a 14.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David Cordani sold 26,527 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Insiders own 0.70% of the company's stock.

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.