State of Tennessee Department of Treasury Decreases Stake in The Cigna Group (NYSE:CI)

State of Tennessee Department of Treasury reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,983 shares of the health services provider's stock after selling 10,779 shares during the quarter. State of Tennessee Department of Treasury's holdings in The Cigna Group were worth $29,542,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CI. TCTC Holdings LLC purchased a new stake in The Cigna Group in the fourth quarter worth about $25,000. Collier Financial bought a new position in shares of The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new position in shares of The Cigna Group in the 4th quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Finally, Transce3nd LLC purchased a new stake in The Cigna Group in the fourth quarter worth $38,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

Shares of CI traded down $0.10 on Friday, reaching $335.60. The company's stock had a trading volume of 1,400,117 shares, compared to its average volume of 1,697,074. The stock's 50 day simple moving average is $319.00 and its two-hundred day simple moving average is $310.75. 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 stock has a market capitalization of $91.85 billion, a P/E ratio of 27.42, a PEG 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 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 (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 in the prior year, the company posted $6.79 EPS. Research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be given a $1.51 dividend. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.80%. The Cigna Group's payout ratio is currently 49.35%.

Insider Transactions at The Cigna Group

In related news, insider Noelle K. Eder sold 9,944 shares of The Cigna Group stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the sale, the insider now owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This trade represents a 42.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elder Granger sold 2,376 shares of the company'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 completion of the transaction, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock valued at $13,603,991 over the last three months. Corporate insiders own 0.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CI. StockNews.com upgraded shares of The Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Barclays decreased 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 note on Friday, January 31st. Mizuho upped their price target on The Cigna Group from $360.00 to $384.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Wells Fargo & Company lowered their price objective on 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. Finally, UBS Group cut their target price on The Cigna Group from $410.00 to $390.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $373.56.

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.