The Cigna Group (NYSE:CI) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CI. Vega Investment Solutions purchased a new position in The Cigna Group during the fourth quarter valued at $304,000. Stonebridge Financial Planning Group LLC lifted its position in The Cigna Group by 5.1% during the fourth quarter. Stonebridge Financial Planning Group LLC now owns 987 shares of the health services provider's stock valued at $273,000 after buying an additional 48 shares during the period. Vise Technologies Inc. lifted its position in The Cigna Group by 66.3% during the fourth quarter. Vise Technologies Inc. now owns 4,019 shares of the health services provider's stock valued at $1,110,000 after buying an additional 1,603 shares during the period. City National Bank of Florida MSD purchased a new position in The Cigna Group during the fourth quarter valued at $208,000. Finally, JT Stratford LLC increased its holdings in shares of The Cigna Group by 117.4% during the fourth quarter. JT Stratford LLC now owns 12,596 shares of the health services provider's stock valued at $3,478,000 after acquiring an additional 6,801 shares in the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Stock Down 0.2%

The Cigna Group stock traded down $0.74 during midday trading on Tuesday, reaching $315.25. The company's stock had a trading volume of 1,477,703 shares, compared to its average volume of 1,715,835. The stock's 50-day simple moving average is $325.26 and its 200-day simple moving average is $309.92. 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 52-week low of $262.03 and a 52-week high of $370.83. The stock has a market capitalization of $84.22 billion, a P/E ratio of 25.76, a PEG ratio of 0.98 and a beta of 0.47.

The Cigna Group (NYSE:CI - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period last year, the business posted $6.47 earnings per share. The company's revenue for the quarter was up 14.4% compared to the same quarter last year. On average, sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, June 3rd. The Cigna Group's payout ratio is 33.44%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CI shares. Guggenheim reaffirmed a "buy" rating and issued a $388.00 price target on shares of The Cigna Group in a research report on Friday. Cantor Fitzgerald lifted their price target on The Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Stephens lowered their price target on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein lowered The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on The Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $379.33.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $308.12, for a total value of $8,173,499.24. Following the sale, the chief executive officer now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elder Granger sold 2,376 shares of the firm'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 transaction, the director now owns 5,471 shares in the company, valued at $1,697,924.85. The trade was a 30.28% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 over the last three months. 0.70% of the stock is currently 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.