Kentucky Retirement Systems Lowers Position in The Cigna Group (NYSE:CI)

Kentucky Retirement Systems decreased its holdings in shares of The Cigna Group (NYSE:CI) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,407 shares of the health services provider’s stock after selling 807 shares during the period. Kentucky Retirement Systems’ holdings in The Cigna Group were worth $7,077,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Capital Asset Advisory Services LLC grew its stake in The Cigna Group by 2.3% in the first quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock valued at $464,000 after purchasing an additional 29 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of The Cigna Group by 0.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock worth $1,185,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in shares of The Cigna Group by 10.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after acquiring an additional 32 shares in the last quarter. Capital Investment Advisors LLC lifted its position in The Cigna Group by 2.9% during the second quarter. Capital Investment Advisors LLC now owns 1,122 shares of the health services provider’s stock valued at $371,000 after acquiring an additional 32 shares during the last quarter. Finally, Saxony Capital Management LLC lifted its position in The Cigna Group by 5.3% during the second quarter. Saxony Capital Management LLC now owns 638 shares of the health services provider’s stock valued at $211,000 after acquiring an additional 32 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now directly owns 39,923 shares in the company, valued at approximately $13,773,834.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The shares were 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 owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent analyst reports. Baird R W raised The Cigna Group to a “strong-buy” rating in a research report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a report on Monday, September 9th. Stephens restated an “overweight” rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, August 2nd. Finally, Barclays increased their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group has an average rating of “Buy” and a consensus target price of $392.79.

The Cigna Group Trading Down 0.2 %

Shares of The Cigna Group stock opened at $355.39 on Thursday. The stock has a market cap of $100.96 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 1.09 and a beta of 0.50. The firm has a fifty day moving average price of $346.11 and a 200 day moving average price of $344.75. The Cigna Group has a 1 year low of $253.95 and a 1 year high of $370.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $6.13 EPS. Equities research analysts predict that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Wednesday, September 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, September 4th. The Cigna Group’s payout ratio is presently 45.98%.

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.