Maryland State Retirement & Pension System trimmed its position in shares of The Cigna Group (NYSE:CI - Free Report) by 7.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,849 shares of the health services provider's stock after selling 1,226 shares during the quarter. Maryland State Retirement & Pension System's holdings in The Cigna Group were worth $4,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of CI. CreativeOne Wealth LLC lifted its holdings in The Cigna Group by 3.0% in the third quarter. CreativeOne Wealth LLC now owns 1,219 shares of the health services provider's stock valued at $422,000 after acquiring an additional 35 shares during the period. Hudson Edge Investment Partners Inc. increased its position in shares of The Cigna Group by 1.9% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider's stock valued at $520,000 after purchasing an additional 36 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in shares of The Cigna Group by 1.0% in the 4th quarter. Meridian Wealth Management LLC now owns 3,670 shares of the health services provider's stock worth $1,013,000 after purchasing an additional 37 shares during the period. Smithfield Trust Co lifted its stake in shares of The Cigna Group by 3.6% in the 3rd quarter. Smithfield Trust Co now owns 1,080 shares of the health services provider's stock worth $373,000 after purchasing an additional 38 shares during the period. Finally, Jacobi Capital Management LLC boosted its holdings in shares of The Cigna Group by 2.2% in the fourth quarter. Jacobi Capital Management LLC now owns 1,749 shares of the health services provider's stock worth $483,000 after buying an additional 38 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
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 transaction of $737,391.60. Following the sale, the director now directly owns 5,471 shares of the company's stock, valued at $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares of the company's stock, valued at $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,751 shares of company stock worth $13,603,991. 0.60% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of analysts have commented on CI shares. Oppenheimer reduced their target price on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Piper Sandler reaffirmed 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. Cantor Fitzgerald boosted their price target on The Cigna Group from $350.00 to $365.00 and gave the company an "overweight" rating in a report on Thursday. Royal Bank of Canada set a $355.00 price target on The Cigna Group in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on 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. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $373.25.
Check Out Our Latest Stock Report on The Cigna Group
The Cigna Group Price Performance
CI traded up $4.14 during trading on Monday, hitting $320.79. 1,287,842 shares of the company traded hands, compared to its average volume of 1,565,016. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company has a market cap of $87.79 billion, a PE ratio of 26.21, a P/E/G ratio of 0.98 and a beta of 0.53. The stock's 50-day simple moving average is $300.83 and its two-hundred day simple moving average is $314.69. The Cigna Group has a 1 year low of $262.03 and a 1 year 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 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 period in the previous year, the business posted $6.79 EPS. As a group, sell-side analysts anticipate that The Cigna Group will post 29.77 earnings per share 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 issued a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.88%. This is a boost 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 Company Profile
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Free Report)
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.
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