Illinois Municipal Retirement Fund Sells 3,148 Shares of The Cigna Group (NYSE:CI)

Illinois Municipal Retirement Fund reduced its holdings in The Cigna Group (NYSE:CI) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,052 shares of the health services provider’s stock after selling 3,148 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in The Cigna Group were worth $7,502,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Roman Butler Fullerton & Co. boosted its position in The Cigna Group by 61.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 9,307 shares of the health services provider’s stock valued at $2,772,000 after purchasing an additional 3,539 shares during the last quarter. Ellsworth Advisors LLC acquired a new position in The Cigna Group during the fourth quarter valued at approximately $4,377,000. Sapient Capital LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $2,811,000. Allspring Global Investments Holdings LLC lifted its position in shares of The Cigna Group by 29.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,438 shares of the health services provider’s stock valued at $87,870,000 after buying an additional 66,891 shares during the last quarter. Finally, Accurate Wealth Management LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $2,244,000. 86.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $335.26, for a total transaction of $340,959.42. Following the completion of the sale, the insider now directly owns 45,564 shares of the company’s stock, valued at approximately $15,275,786.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Cordani sold 31,209 shares of the company’s 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 completion of the transaction, the chief executive officer now directly owns 348,054 shares of the company’s stock, valued at $123,618,339.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric P. Palmer sold 1,017 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 114,144 shares of company stock valued at $39,296,330. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Down 0.1 %

Shares of NYSE:CI opened at $352.70 on Wednesday. The company has a market capitalization of $103.12 billion, a price-to-earnings ratio of 20.28, a P/E/G ratio of 1.08 and a beta of 0.56. 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 business’s 50-day moving average is $349.03 and its 200-day moving average is $316.84. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $365.71.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data on Friday, February 2nd. The health services provider reported $6.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.54 by $0.25. The company had revenue of $51.15 billion for the quarter, compared to the consensus estimate 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 revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.96 EPS. Equities research analysts predict that The Cigna Group will post 28.36 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Wednesday, March 6th were issued a dividend of $1.40 per share. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.23. This represents a $5.60 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, March 5th. The Cigna Group’s payout ratio is currently 32.20%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CI shares. Cantor Fitzgerald reissued an “overweight” rating and set a $384.00 price target on shares of The Cigna Group in a report on Wednesday, April 10th. Mizuho lifted their price target on The Cigna Group from $360.00 to $370.00 and gave the stock a “buy” rating in a report on Monday, February 5th. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 14th. Oppenheimer reissued an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a report on Wednesday, January 17th. Finally, Wells Fargo & Company lifted their price target on The Cigna Group from $334.00 to $348.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $362.14.

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.