The Cigna Group (NYSE:CI) Position Reduced by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its stake in The Cigna Group (NYSE:CI) by 6.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 39,425 shares of the health services provider’s stock after selling 2,595 shares during the period. Public Employees Retirement Association of Colorado’s holdings in The Cigna Group were worth $13,033,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CI. Capital Asset Advisory Services LLC increased its stake in The Cigna Group by 2.3% during 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% during the 2nd quarter. Checchi Capital Advisers LLC now owns 3,584 shares of the health services provider’s stock valued at $1,185,000 after buying an additional 31 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in The Cigna Group by 1.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,206 shares of the health services provider’s stock worth $729,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in The Cigna Group by 10.6% in the first 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 during the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in The Cigna Group by 2.9% in 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 period. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Down 0.3 %

CI opened at $356.14 on Friday. The stock’s fifty day moving average is $347.02 and its 200-day moving average is $345.05. The Cigna Group has a one year low of $253.95 and a one year high of $370.83. The company has a market capitalization of $101.17 billion, a PE ratio of 29.24, a P/E/G ratio of 1.09 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

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

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CI shares. Jefferies Financial Group raised their price target on The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Piper Sandler began coverage on shares of The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research report on Monday, September 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. One equities research 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. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $392.79.

Insiders Place Their Bets

In other news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at approximately $6,010,264.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian C. Evanko sold 4,795 shares of the company’s 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 sale, the insider now owns 39,923 shares of the company’s stock, valued at approximately $13,773,834.23. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

The Cigna Group 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.