Retirement Systems of Alabama Lowers Stock Holdings in The Cigna Group (NYSE:CI)

Retirement Systems of Alabama reduced its stake in The Cigna Group (NYSE:CI) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 249,425 shares of the health services provider’s stock after selling 2,435 shares during the quarter. Retirement Systems of Alabama owned 0.09% of The Cigna Group worth $74,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CI. Bogart Wealth LLC lifted its holdings in shares of The Cigna Group by 104.5% in the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock valued at $26,000 after buying an additional 46 shares during the period. OFI Invest Asset Management acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at approximately $26,000. Fortitude Family Office LLC acquired a new stake in shares of The Cigna Group in the 4th quarter valued at approximately $29,000. VisionPoint Advisory Group LLC lifted its holdings in shares of The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock valued at $30,000 after buying an additional 55 shares during the period. Finally, Pacifica Partners Inc. lifted its holdings in shares of The Cigna Group by 73.2% in the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after buying an additional 60 shares during the period. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 0.0 %

CI stock traded down $0.04 during trading on Friday, reaching $354.47. 830,527 shares of the stock traded hands, compared to its average volume of 1,260,787. The business’s 50 day moving average price is $349.88 and its 200-day moving average price is $317.98. The firm has a market capitalization of $103.63 billion, a PE ratio of 20.38, a P/E/G ratio of 1.09 and a beta of 0.56. The Cigna Group has a 52-week low of $240.50 and a 52-week high of $365.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.67.

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

The Cigna Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Tuesday, June 4th. The Cigna Group’s dividend payout ratio is currently 32.20%.

Analyst Upgrades and Downgrades

CI has been the subject of several research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price objective (up from $382.00) on shares of The Cigna Group in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $355.00 to $370.00 in a report on Thursday, February 1st. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Wednesday, April 10th. Finally, Barclays assumed coverage on The Cigna Group in a report on Wednesday, March 6th. They set an “overweight” rating and a $393.00 price objective for the company. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $362.14.

Insider Activity at The Cigna Group

In related news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction dated Wednesday, February 7th. The stock was 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 owns 2,102 shares of the company’s stock, valued at $694,668.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO David Cordani sold 31,209 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $355.17, for a total value of $11,084,500.53. Following the transaction, the chief executive officer now directly owns 348,054 shares in the company, valued at approximately $123,618,339.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,144 shares of company stock valued at $39,296,330. Insiders own 0.60% of the company’s stock.

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.