Maryland State Retirement & Pension System Trims Stock Position in The Cigna Group (NYSE:CI)

Maryland State Retirement & Pension System trimmed its holdings in The Cigna Group (NYSE:CI) by 7.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 14,849 shares of the health services provider’s stock after selling 1,226 shares during the period. Maryland State Retirement & Pension System’s holdings in The Cigna Group were worth $4,100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Xponance Inc. raised its holdings in The Cigna Group by 1.4% in the 4th quarter. Xponance Inc. now owns 44,583 shares of the health services provider’s stock valued at $12,311,000 after buying an additional 612 shares during the period. Generali Asset Management SPA SGR purchased a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $7,201,000. Horizon Investments LLC lifted its holdings in shares of The Cigna Group by 2.0% in the 4th quarter. Horizon Investments LLC now owns 4,850 shares of the health services provider’s stock worth $1,339,000 after acquiring an additional 93 shares during the last quarter. Mystic Asset Management Inc. purchased a new position in shares of The Cigna Group during the 4th quarter worth approximately $2,536,000. Finally, Curio Wealth LLC acquired a new stake in The Cigna Group in the 4th quarter valued at approximately $112,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.5 %

NYSE CI opened at $320.74 on Thursday. The firm’s fifty day moving average price is $299.23 and its 200 day moving average price is $315.68. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a market capitalization of $87.78 billion, a price-to-earnings ratio of 26.20, a price-to-earnings-growth ratio of 0.98 and a beta of 0.53.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same period in the previous year, the business posted $6.79 EPS. On average, sell-side analysts expect that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.88%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Wall Street Analyst Weigh In

A number of research firms have commented on CI. UBS Group decreased their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 3rd. Piper Sandler restated an “overweight” rating and set a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Wells Fargo & Company cut their price target on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. Stephens lowered their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Barclays reduced their target price on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, The Cigna Group presently has a consensus rating of “Buy” and a consensus target price of $372.31.

Insider Activity at The Cigna Group

In other news, insider Noelle K. Eder sold 9,944 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $320.00, for a total transaction of $3,182,080.00. Following the completion of the sale, the insider now owns 13,406 shares in the company, valued at approximately $4,289,920. This represents a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicole S. Jones sold 4,904 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $1,511,020.48. Following the completion of the transaction, the insider now owns 29,421 shares in the company, valued at $9,065,198.52. This trade represents a 14.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,751 shares of company stock worth $13,603,991 in the last 90 days. 0.60% of the stock is owned by insiders.

About The Cigna Group

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.