Public Employees Retirement System of Ohio Sells 11,772 Shares of The Cigna Group (NYSE:CI)

Public Employees Retirement System of Ohio trimmed its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,464 shares of the health services provider's stock after selling 11,772 shares during the quarter. Public Employees Retirement System of Ohio's holdings in The Cigna Group were worth $36,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. TCTC Holdings LLC acquired a new stake in The Cigna Group in the fourth quarter worth approximately $25,000. Collier Financial bought a new stake in shares of The Cigna Group in the 4th quarter worth $32,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $37,000. Transce3nd LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at $38,000. Finally, Heck Capital Advisors LLC bought a new position in The Cigna Group during the fourth quarter valued at about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other The Cigna Group 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 value of $3,182,080.00. Following the transaction, the insider now directly owns 13,406 shares of the company's stock, valued at $4,289,920. The trade was a 42.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Elder Granger sold 2,376 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the completion of the sale, the director now owns 5,471 shares in the company, valued at $1,697,924.85. This trade represents a 30.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,751 shares of company stock valued at $13,603,991 over the last 90 days. 0.70% of the stock is currently owned by company insiders.

The Cigna Group Stock Down 1.4%

Shares of NYSE:CI traded down $4.49 during trading on Wednesday, reaching $310.79. 1,157,061 shares of the company traded hands, compared to its average volume of 1,713,610. The firm has a fifty day simple moving average of $325.14 and a 200 day simple moving average of $309.96. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The firm has a market cap of $83.03 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same quarter last year, the firm earned $6.47 earnings per share. The business's revenue for the quarter was up 14.4% on a year-over-year basis. Analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.94%. The Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

Analyst Ratings Changes

CI has been the subject of a number of research reports. Oppenheimer reduced their target price on shares of The Cigna Group from $400.00 to $375.00 and set an "outperform" rating for the company in a report on Friday, January 31st. Guggenheim reissued a "buy" rating and set a $388.00 price objective on shares of The Cigna Group in a research note on Friday, May 23rd. Stephens cut their target price on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Morgan Stanley upped their target price on The Cigna Group from $379.00 to $390.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, UBS Group dropped their price target 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 analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $379.33.

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.