Utah Retirement Systems Has $12.53 Million Stock Holdings in The Cigna Group (NYSE:CI)

Utah Retirement Systems decreased its holdings in The Cigna Group (NYSE:CI - Free Report) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,362 shares of the health services provider's stock after selling 800 shares during the quarter. Utah Retirement Systems' holdings in The Cigna Group were worth $12,526,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CI. Garden State Investment Advisory Services LLC acquired a new stake in The Cigna Group in the third quarter valued at $444,000. Advisory Resource Group raised its stake in shares of The Cigna Group by 2.0% during the 3rd quarter. Advisory Resource Group now owns 13,163 shares of the health services provider's stock worth $4,560,000 after buying an additional 263 shares in the last quarter. Virtu Financial LLC lifted its holdings in The Cigna Group by 39.6% in the third quarter. Virtu Financial LLC now owns 17,173 shares of the health services provider's stock valued at $5,949,000 after acquiring an additional 4,870 shares during the period. Te Ahumairangi Investment Management Ltd increased its holdings in The Cigna Group by 7.9% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 20,330 shares of the health services provider's stock valued at $7,003,000 after buying an additional 1,490 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its position in The Cigna Group by 28.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 15,713 shares of the health services provider's stock worth $5,444,000 after purchasing an additional 3,466 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company's stock.

The Cigna Group Stock Down 0.3 %

Shares of CI traded down $1.15 during mid-day trading on Friday, reaching $334.03. 2,471,704 shares of the stock traded hands, compared to its average volume of 1,699,074. The stock has a fifty day simple moving average of $323.21 and a 200 day simple moving average of $309.90. The firm has a market cap of $91.42 billion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 0.98 and a beta of 0.47. The Cigna Group has a 12-month low of $262.03 and a 12-month high of $370.83. 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 (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $65.45 billion during the quarter, compared to analysts' expectations of $60.39 billion. During the same period in the prior year, the company posted $6.47 EPS. The firm's revenue for the quarter was up 14.4% on a year-over-year basis. Sell-side analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, June 3rd. The Cigna Group's dividend payout ratio (DPR) is currently 49.35%.

Insider Transactions at The Cigna Group

In other The Cigna Group news, CEO David Cordani sold 26,527 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 127,767 shares of the company's stock, valued at approximately $39,367,568.04. This represents a 17.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 9,944 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 13,406 shares of the company's stock, valued at approximately $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,751 shares of company stock valued at $13,603,991. 0.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CI has been the subject of a number of recent research reports. Barclays dropped their price objective on The Cigna Group from $420.00 to $339.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein downgraded shares of The Cigna Group from an "outperform" rating to a "market perform" rating and set a $323.00 target price for the company. in a report on Thursday, February 6th. Raymond James reaffirmed a "strong-buy" rating and set a $360.00 price target (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Wells Fargo & Company lowered their price objective on shares of 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. Finally, Stephens dropped their price objective on The Cigna Group from $410.00 to $380.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $373.56.

About The Cigna Group

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.