The Cigna Group (NYSE:CI) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in shares of The Cigna Group (NYSE:CI) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,865 shares of the health services provider’s stock after selling 2,035 shares during the period. State of Alaska Department of Revenue’s holdings in The Cigna Group were worth $14,114,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group during the fourth quarter valued at about $29,000. VisionPoint Advisory Group LLC grew its holdings in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 55 shares in the last quarter. Raleigh Capital Management Inc. grew its holdings in shares of The Cigna Group by 69.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 100 shares of the health services provider’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of The Cigna Group in the fourth quarter valued at approximately $37,000. Finally, Pacifica Partners Inc. grew its holdings in shares of The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after purchasing an additional 60 shares in the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Stock Down 0.3 %

Shares of NYSE:CI opened at $325.07 on Thursday. The company has a market capitalization of $92.34 billion, a PE ratio of 26.69, a P/E/G ratio of 0.99 and a beta of 0.52. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The Cigna Group has a twelve month low of $253.95 and a twelve month high of $365.71. The firm has a 50 day simple moving average of $340.15 and a 200-day simple moving average of $333.85.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same quarter in the previous year, the firm earned $5.41 EPS. The company’s revenue was up 23.2% compared to the same quarter last year. On average, equities analysts predict that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were given a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.72%. The Cigna Group’s dividend payout ratio (DPR) is 45.98%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Baird R W upgraded shares of The Cigna Group to a “strong-buy” rating in a report on Thursday, May 30th. Piper Sandler assumed coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective for the company. Oppenheimer lifted their price objective on shares of The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Finally, Barclays began coverage on shares of The Cigna Group in a research note on Wednesday, March 6th. They issued an “overweight” rating and a $393.00 price target for the company. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $376.20.

Insider Activity at The Cigna Group

In related news, insider Noelle K. Eder sold 10,700 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the completion of the sale, the insider now owns 15,824 shares in the company, valued at approximately $5,514,189.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Cigna Group news, insider Noelle K. Eder sold 10,700 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now directly owns 15,824 shares of the company’s stock, valued at approximately $5,514,189.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elder Granger sold 547 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The disclosure for this sale can be found here. Insiders sold a total of 22,988 shares of company stock worth $7,975,726 in the last 90 days. 0.70% of the stock is owned by insiders.

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.