Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $16.33 Million Holdings in The Cigna Group (NYSE:CI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in The Cigna Group (NYSE:CI) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,144 shares of the health services provider’s stock after selling 1,711 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in The Cigna Group were worth $16,332,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CI. TCTC Holdings LLC purchased a new position in The Cigna Group during the 4th quarter worth approximately $25,000. Collier Financial purchased a new position in shares of The Cigna Group during the fourth quarter valued at $32,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group during the fourth quarter valued at $34,000. Prospera Private Wealth LLC acquired a new stake in The Cigna Group during the 3rd quarter worth about $37,000. Finally, Compagnie Lombard Odier SCmA purchased a new position in The Cigna Group during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group decreased their price target on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Oppenheimer decreased 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 research note on Friday, January 31st. Truist Financial dropped their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Sanford C. Bernstein cut The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price objective for the company. in a research report on Thursday, February 6th. Finally, Cantor Fitzgerald upped their target price on The Cigna Group from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $373.25.

The Cigna Group Price Performance

Shares of The Cigna Group stock opened at $321.34 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $300.07 and a 200-day simple moving average of $315.72. The stock has a market capitalization of $87.94 billion, a price-to-earnings ratio of 26.25, a PEG ratio of 0.98 and a beta of 0.53. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the business posted $6.79 EPS. On average, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were issued a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 1.88%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Insiders Place Their Bets

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $308.12, for a total transaction 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 $39,367,568.04. This trade 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 available through this hyperlink. Also, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This represents a 14.29 % 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 in the last three months. Company insiders own 0.60% of the company’s stock.

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.