Public Employees Retirement Association of Colorado Has $15.26 Million Stock Holdings in The Cigna Group (NYSE:CI)

Public Employees Retirement Association of Colorado reduced its stake in The Cigna Group (NYSE:CI) by 5.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,020 shares of the health services provider’s stock after selling 2,362 shares during the period. Public Employees Retirement Association of Colorado’s holdings in The Cigna Group were worth $15,261,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Manhattan West Asset Management LLC grew its stake in The Cigna Group by 7.9% in the 1st quarter. Manhattan West Asset Management LLC now owns 9,778 shares of the health services provider’s stock valued at $3,551,000 after buying an additional 712 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock worth $5,208,593,000 after acquiring an additional 867,180 shares during the period. BOKF NA increased its stake in shares of The Cigna Group by 14.3% during the first quarter. BOKF NA now owns 5,381 shares of the health services provider’s stock worth $1,959,000 after purchasing an additional 673 shares during the period. Lazard Asset Management LLC lifted its holdings in The Cigna Group by 54.3% during the 1st quarter. Lazard Asset Management LLC now owns 185,295 shares of the health services provider’s stock worth $67,296,000 after purchasing an additional 65,193 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in The Cigna Group in the 1st quarter valued at $1,831,000. 86.99% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Brian C. Evanko sold 4,795 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other The Cigna Group news, Director Elder Granger sold 547 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at approximately $1,812,979.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brian C. Evanko sold 4,795 shares of The Cigna Group stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CI has been the subject of several recent research reports. Piper Sandler initiated coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price target on The Cigna Group from $432.00 to $435.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Baird R W raised The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. Finally, StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 20th. Two investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $376.20.

The Cigna Group Stock Performance

Shares of CI stock opened at $346.63 on Tuesday. The business’s 50-day moving average price is $335.24 and its 200-day moving average price is $338.14. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The firm has a market capitalization of $98.47 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.05 and a beta of 0.52. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 EPS for the quarter, beating analysts’ consensus estimates of $6.17 by $0.30. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The firm had revenue of $57.25 billion for the quarter, compared to analyst estimates of $56.59 billion. During the same period last year, the firm posted $5.41 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts forecast that The Cigna Group will post 28.47 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Wednesday, September 4th. The Cigna Group’s payout ratio is 45.98%.

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.