Teachers Retirement System of The State of Kentucky Reduces Holdings in The Cigna Group (NYSE:CI)

Teachers Retirement System of The State of Kentucky reduced its position in shares of The Cigna Group (NYSE:CI) by 2.8% during the second quarter, HoldingsChannel reports. The firm owned 23,690 shares of the health services provider’s stock after selling 688 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in The Cigna Group were worth $7,831,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in The Cigna Group by 4.4% in the second quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after buying an additional 625 shares during the last quarter. Hancock Whitney Corp raised its position in shares of The Cigna Group by 75.6% during the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after acquiring an additional 1,629 shares in the last quarter. ORG Partners LLC bought a new position in The Cigna Group during the second quarter worth $489,000. Public Employees Retirement Association of Colorado boosted its holdings in The Cigna Group by 845.7% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 44,382 shares of the health services provider’s stock worth $13,290,000 after purchasing an additional 39,689 shares during the period. Finally, OLD Point Trust & Financial Services N A bought a new stake in The Cigna Group during the fourth quarter valued at $115,000. 86.99% of the stock is owned by institutional investors and hedge funds.

The Cigna Group Stock Performance

Shares of CI opened at $340.64 on Thursday. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The stock has a market capitalization of $96.77 billion, a P/E ratio of 27.97, a P/E/G ratio of 1.08 and a beta of 0.50. The firm’s 50 day moving average is $348.58 and its 200-day moving average is $345.22. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion for the quarter, compared to analysts’ expectations of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.13 earnings per share. Equities research analysts anticipate that The Cigna Group will post 28.48 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, September 4th were given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 1.64%. The ex-dividend date was Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $400.00 price target on shares of The Cigna Group in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 target price on shares of The Cigna Group in a research note on Monday, September 9th. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $392.79.

Insider Transactions at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the transaction, the director now owns 17,539 shares in the company, valued at $6,010,264.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by insiders.

The Cigna Group 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.