Treasurer of the State of North Carolina Trims Holdings in The Cigna Group (NYSE:CI)

Treasurer of the State of North Carolina cut its position in shares of The Cigna Group (NYSE:CI - Free Report) by 10.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,976 shares of the health services provider's stock after selling 16,645 shares during the period. Treasurer of the State of North Carolina's holdings in The Cigna Group were worth $37,825,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. TCTC Holdings LLC acquired a new position in shares of The Cigna Group during the 4th quarter valued at $25,000. Collier Financial purchased a new stake in The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC purchased a new stake in shares of The Cigna Group during the 4th quarter valued at $34,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the 4th quarter valued at $37,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Up 1.9 %

Shares of CI stock traded up $6.21 on Wednesday, reaching $334.84. 508,049 shares of the company were exchanged, compared to its average volume of 1,684,301. 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 has a one year low of $262.03 and a one year high of $370.83. The company has a 50-day moving average of $313.58 and a 200-day moving average of $311.06. The company has a market cap of $91.64 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 0.98 and a beta of 0.51.

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The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the previous year, the business posted $6.79 EPS. Analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date of this dividend 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 annualized dividend and a yield of 1.80%. The Cigna Group's dividend payout ratio (DPR) is 49.35%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Wells Fargo & Company reduced 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. UBS Group cut their price objective on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research report on Monday, February 3rd. Stephens reduced their target price on shares of The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Cantor Fitzgerald upped their target price on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, Guggenheim assumed coverage on shares of The Cigna Group in a research note on Wednesday, April 9th. They issued a "buy" rating and a $384.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $373.56.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group 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 $8,173,499.24. Following the sale, the chief executive officer now 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 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 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 value of $737,391.60. Following the sale, the director now directly owns 5,471 shares in the company, 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. In the last 90 days, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company's stock.

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.