The Cigna Group (NYSE:CI) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of The Cigna Group (NYSE:CI - Free Report) by 9.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,475 shares of the health services provider's stock after selling 1,932 shares during the quarter. Kentucky Retirement Systems' holdings in The Cigna Group were worth $6,747,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CI. Cedar Wealth Management LLC acquired a new position in The Cigna Group in the first quarter valued at $29,000. TruNorth Capital Management LLC purchased a new position in shares of The Cigna Group during the 2nd quarter worth about $33,000. Ulland Investment Advisors LLC boosted its position in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider's stock worth $36,000 after acquiring an additional 100 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in The Cigna Group in the third quarter valued at approximately $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in The Cigna Group during the second quarter worth approximately $66,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the transaction, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. The trade was a 13.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. StockNews.com cut shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a research note on Monday, November 4th. Cantor Fitzgerald restated an "overweight" rating and issued a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Royal Bank of Canada cut their price target on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Finally, Stephens reiterated an "overweight" rating and set a $410.00 price objective on shares of The Cigna Group in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, The Cigna Group presently has a consensus rating of "Buy" and a consensus price target of $394.64.

The Cigna Group Stock Down 0.7 %

Shares of CI traded down $2.36 during trading on Friday, reaching $321.52. The company's stock had a trading volume of 1,650,180 shares, compared to its average volume of 1,545,534. The company has a market cap of $89.43 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 1.00 and a beta of 0.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $338.88 and a two-hundred day moving average of $339.67. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $370.83.

The Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The firm had revenue of $63.70 billion for the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The firm's quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the company posted $6.77 earnings per share. On average, sell-side analysts predict that The Cigna Group will post 28.5 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.74%. The Cigna Group's payout ratio is 52.83%.

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.