Public Employees Retirement System of Ohio Sells 2,338 Shares of Cigna Group $CI

Public Employees Retirement System of Ohio trimmed its holdings in shares of Cigna Group (NYSE:CI) by 2.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 114,621 shares of the health services provider’s stock after selling 2,338 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Cigna Group were worth $37,891,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CI. Flaharty Asset Management LLC bought a new stake in shares of Cigna Group during the first quarter worth $28,000. 1248 Management LLC acquired a new position in Cigna Group in the 1st quarter worth $29,000. Activest Wealth Management boosted its stake in Cigna Group by 360.0% in the 1st quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the period. Retirement Wealth Solutions LLC increased its holdings in Cigna Group by 74.1% during the 2nd quarter. Retirement Wealth Solutions LLC now owns 101 shares of the health services provider’s stock worth $33,000 after purchasing an additional 43 shares in the last quarter. Finally, Saudi Central Bank acquired a new stake in shares of Cigna Group in the 1st quarter valued at about $36,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Nicole S. Jones sold 28,526 shares of Cigna Group stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $300.00, for a total transaction of $8,557,800.00. Following the completion of the transaction, the insider directly owned 25,648 shares in the company, valued at approximately $7,694,400. The trade was a 52.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Truist Financial set a $375.00 price objective on Cigna Group in a research report on Tuesday, September 2nd. Barclays upped their price target on Cigna Group from $354.00 to $383.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. TD Cowen raised shares of Cigna Group to a “strong-buy” rating in a research note on Monday, June 23rd. Wall Street Zen raised shares of Cigna Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, Deutsche Bank Aktiengesellschaft set a $415.00 target price on shares of Cigna Group and gave the company a “buy” rating in a research report on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Cigna Group presently has an average rating of “Buy” and a consensus target price of $371.81.

Cigna Group Price Performance

Shares of CI opened at $291.61 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.65. The company’s fifty day simple moving average is $293.18 and its 200 day simple moving average is $311.02. Cigna Group has a 1-year low of $256.89 and a 1-year high of $358.88. The company has a market cap of $77.84 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.85 and a beta of 0.48.

Cigna Group (NYSE:CI) last announced its quarterly earnings data on Thursday, July 31st. The health services provider reported $7.20 EPS for the quarter, beating analysts’ consensus estimates of $7.15 by $0.05. The company had revenue of $67.13 billion during the quarter, compared to the consensus estimate of $62.61 billion. Cigna Group had a net margin of 1.92% and a return on equity of 18.80%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the firm posted $6.72 EPS. Cigna Group has set its FY 2025 guidance at 29.600- EPS. On average, research analysts forecast that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a $1.51 dividend. The ex-dividend date was Thursday, September 4th. This represents a $6.04 annualized dividend and a yield of 2.1%. Cigna Group’s dividend payout ratio is currently 32.97%.

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.