The Cigna Group (NYSE:CI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its holdings in shares of The Cigna Group (NYSE:CI) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,429 shares of the health services provider’s stock after selling 300 shares during the period. Maryland State Retirement & Pension System’s holdings in The Cigna Group were worth $7,804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sanders Capital LLC raised its holdings in The Cigna Group by 1.3% during the fourth quarter. Sanders Capital LLC now owns 7,727,729 shares of the health services provider’s stock worth $2,314,068,000 after purchasing an additional 97,277 shares during the last quarter. Morgan Stanley grew its position in The Cigna Group by 4.7% during the third quarter. Morgan Stanley now owns 4,973,106 shares of the health services provider’s stock valued at $1,422,657,000 after acquiring an additional 225,115 shares during the period. Norges Bank acquired a new stake in The Cigna Group during the 4th quarter worth approximately $1,006,348,000. Parnassus Investments LLC raised its stake in shares of The Cigna Group by 5.0% in the 4th quarter. Parnassus Investments LLC now owns 2,682,061 shares of the health services provider’s stock valued at $803,143,000 after acquiring an additional 126,598 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of The Cigna Group by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,978,465 shares of the health services provider’s stock worth $592,451,000 after purchasing an additional 53,414 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

The Cigna Group stock traded down $6.87 during midday trading on Friday, reaching $318.56. 160,601 shares of the stock traded hands, compared to its average volume of 1,599,559. The Cigna Group has a fifty-two week low of $253.95 and a fifty-two week high of $365.71. 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 cap of $90.49 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 0.99 and a beta of 0.52. The firm has a fifty day moving average price of $339.03 and a two-hundred day moving average price of $333.73.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The business had revenue of $57.25 billion during the quarter, compared to the consensus estimate of $56.59 billion. During the same period in the previous year, the firm posted $5.41 earnings per share. The business’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts forecast that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Tuesday, June 4th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Ratings Changes

CI has been the topic of several analyst reports. Piper Sandler started coverage on shares of The Cigna Group in a research note on Wednesday, June 26th. They set an “overweight” rating and a $400.00 price target on the stock. JPMorgan Chase & Co. upped their target price on shares of The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Cantor Fitzgerald restated an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, June 12th. Finally, Robert W. Baird initiated coverage on The Cigna Group in a research report on Thursday, May 30th. They issued an “outperform” rating and a $388.00 target price for the company. Two equities 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 stock. According to MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $376.20.

Insider Activity at The Cigna Group

In related news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the transaction, the director now owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Elder Granger sold 547 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the transaction, the director now owns 5,471 shares of the company’s stock, valued at $1,812,979.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Evanko sold 4,795 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the sale, the insider now owns 39,923 shares in the company, valued at $13,773,834.23. The disclosure for this sale can be found here. Insiders sold 22,988 shares of company stock worth $7,975,726 in the last 90 days. Corporate insiders own 0.70% of the company’s stock.

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.