State of Alaska Department of Revenue Sells 2,035 Shares of The Cigna Group (NYSE:CI)

State of Alaska Department of Revenue decreased its position in The Cigna Group (NYSE:CI) by 5.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,865 shares of the health services provider’s stock after selling 2,035 shares during the quarter. State of Alaska Department of Revenue’s holdings in The Cigna Group were worth $14,114,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Seizert Capital Partners LLC grew its stake in shares of The Cigna Group by 195.8% in the 4th quarter. Seizert Capital Partners LLC now owns 32,150 shares of the health services provider’s stock valued at $9,627,000 after buying an additional 21,280 shares in the last quarter. Roman Butler Fullerton & Co. boosted its position in The Cigna Group by 61.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock worth $2,772,000 after purchasing an additional 3,539 shares during the period. TFO Wealth Partners LLC boosted its position in The Cigna Group by 98,980.0% during the fourth quarter. TFO Wealth Partners LLC now owns 4,954 shares of the health services provider’s stock worth $1,497,000 after purchasing an additional 4,949 shares during the period. Ellsworth Advisors LLC bought a new stake in The Cigna Group during the fourth quarter worth approximately $4,377,000. Finally, Sapient Capital LLC bought a new stake in The Cigna Group during the fourth quarter worth approximately $2,811,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of NYSE CI opened at $325.07 on Thursday. The business has a fifty day simple moving average of $340.15 and a 200 day simple moving average of $333.85. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $92.34 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 0.99 and a beta of 0.52. The Cigna Group has a one year low of $253.95 and a one year high of $365.71.

The Cigna Group (NYSE:CI) last issued its earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the company posted $5.41 earnings per share. Sell-side analysts expect that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Tuesday, June 4th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $5.60 annualized dividend and a yield of 1.72%. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CI shares. JPMorgan Chase & Co. upped their target price on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Barclays initiated coverage on The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 target price for the company. Robert W. Baird initiated coverage on The Cigna Group in a report on Thursday, May 30th. They set an “outperform” rating and a $388.00 price target for the company. Piper Sandler initiated coverage on The Cigna Group in a report on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target for the company. Finally, Oppenheimer upped their price target on The Cigna Group from $370.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, The Cigna Group has an average rating of “Buy” and a consensus target price of $376.20.

Insiders Place Their Bets

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 5,946 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.71, for a total transaction of $2,073,429.66. Following the completion of the transaction, the senior vice president now directly owns 2,595 shares in the company, valued at $904,902.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Noelle K. Eder sold 10,700 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $348.47, for a total value of $3,728,629.00. Following the transaction, the insider now owns 15,824 shares of the company’s stock, valued at $5,514,189.28. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 over the last three months. 0.70% of the stock is currently owned by corporate 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.