Public Employees Retirement Association of Colorado Has $10.42 Million Stock Position in The Cigna Group (NYSE:CI)

Public Employees Retirement Association of Colorado cut its stake in The Cigna Group (NYSE:CI - Free Report) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,744 shares of the health services provider's stock after selling 1,698 shares during the period. Public Employees Retirement Association of Colorado's holdings in The Cigna Group were worth $10,423,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of The Cigna Group by 4.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,556,278 shares of the health services provider's stock worth $3,191,151,000 after purchasing an additional 501,320 shares in the last quarter. Sanders Capital LLC boosted its stake in The Cigna Group by 2.0% in the 4th quarter. Sanders Capital LLC now owns 8,054,959 shares of the health services provider's stock worth $2,224,296,000 after purchasing an additional 154,420 shares during the period. Geode Capital Management LLC grew its position in The Cigna Group by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 5,957,180 shares of the health services provider's stock worth $1,640,878,000 after purchasing an additional 101,737 shares in the last quarter. GQG Partners LLC lifted its holdings in shares of The Cigna Group by 22.4% in the fourth quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock valued at $1,110,520,000 after purchasing an additional 737,099 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of The Cigna Group in the fourth quarter worth $867,785,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Price Performance

CI stock traded down $1.15 during midday trading on Friday, reaching $334.03. 2,471,704 shares of the company's stock traded hands, compared to its average volume of 1,701,931. The company has a 50-day simple moving average of $322.82 and a two-hundred day simple moving average of $310.34. 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 company has a market cap of $91.42 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 0.98 and a beta of 0.51.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings results 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 net margin of 1.39% and a return on equity of 18.61%. The business had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the prior year, the company earned $6.47 EPS. The firm's quarterly revenue was up 14.4% on a year-over-year basis. On average, analysts anticipate that The Cigna Group will post 29.77 earnings per share 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. Shareholders of record on Tuesday, June 3rd will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.81%. The Cigna Group's dividend payout ratio is currently 49.35%.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director Elder Granger sold 2,376 shares of The Cigna Group stock in a transaction that occurred 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 transaction, the director now owns 5,471 shares of the company's stock, valued at approximately $1,697,924.85. The trade was a 30.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Noelle K. Eder sold 9,944 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now directly owns 13,406 shares in the company, valued at $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,751 shares of company stock worth $13,603,991. Company insiders own 0.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CI. Truist Financial lifted their target price on shares of The Cigna Group from $375.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Wells Fargo & Company cut their price target on The Cigna Group from $370.00 to $341.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 4th. UBS Group lowered their price target on The Cigna Group from $410.00 to $390.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Barclays cut their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $373.56.

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.