The Cigna Group (NYSE:CI) Stock Holdings Lifted by California Public Employees Retirement System

California Public Employees Retirement System lifted its holdings in The Cigna Group (NYSE:CI) by 7.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 967,477 shares of the health services provider’s stock after buying an additional 69,084 shares during the quarter. California Public Employees Retirement System owned approximately 0.33% of The Cigna Group worth $289,711,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Bogart Wealth LLC boosted its position in shares of The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of The Cigna Group in the third quarter worth about $26,000. Fortitude Family Office LLC acquired a new position in shares of The Cigna Group in the fourth quarter worth about $29,000. VisionPoint Advisory Group LLC boosted its holdings in shares of The Cigna Group by 112.2% in the third quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after buying an additional 55 shares during the period. Finally, Pacifica Partners Inc. boosted its holdings in shares of The Cigna Group by 73.2% in the fourth quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock worth $43,000 after buying an additional 60 shares during the period. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Stock Performance

CI traded up $3.88 during trading on Tuesday, reaching $357.06. 132,459 shares of the company’s stock were exchanged, compared to its average volume of 1,580,634. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The business has a 50 day moving average price of $348.73 and a 200 day moving average price of $316.39. The company has a market capitalization of $104.39 billion, a P/E ratio of 20.31, a PEG ratio of 1.08 and a beta of 0.56.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, February 2nd. The health services provider reported $6.79 earnings per share for the quarter, topping analysts’ consensus estimates of $6.54 by $0.25. The Cigna Group had a net margin of 2.64% and a return on equity of 13.59%. The firm had revenue of $51.15 billion for the quarter, compared to the consensus estimate of $48.91 billion. During the same quarter in the previous year, the company earned $4.96 earnings per share. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts predict that The Cigna Group will post 28.36 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Wednesday, March 6th were paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Tuesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.23. The Cigna Group’s payout ratio is currently 32.20%.

Insider Activity

In other news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the sale, the senior vice president now owns 2,102 shares in the company, valued at approximately $694,668.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Eric P. Palmer sold 1,017 shares of The Cigna Group stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $335.26, for a total value of $340,959.42. Following the completion of the transaction, the insider now directly owns 45,564 shares of the company’s stock, valued at $15,275,786.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of The Cigna Group stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total value of $1,608,446.16. Following the completion of the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at $694,668.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,144 shares of company stock worth $39,296,330. Corporate insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on CI shares. Wells Fargo & Company raised their target price on shares of The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Morgan Stanley restated an “overweight” rating and set a $392.00 price target (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Sanford C. Bernstein raised shares of The Cigna Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $330.00 to $372.00 in a research report on Thursday, January 4th. Barclays initiated coverage on shares of The Cigna Group in a research report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective on the stock. Finally, Mizuho raised their price objective on shares of The Cigna Group from $360.00 to $370.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, The Cigna Group currently has a consensus rating of “Buy” and an average target price of $362.14.

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.