California State Teachers Retirement System Reduces Holdings in Cigna Group $CI

California State Teachers Retirement System reduced its position in Cigna Group (NYSE:CI) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 405,654 shares of the health services provider’s stock after selling 10,401 shares during the quarter. California State Teachers Retirement System’s holdings in Cigna Group were worth $108,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CI. Wilkerson Advisory Group LLC acquired a new stake in shares of Cigna Group in the fourth quarter valued at about $25,000. Cedar Mountain Advisors LLC boosted its position in Cigna Group by 161.9% during the first quarter. Cedar Mountain Advisors LLC now owns 110 shares of the health services provider’s stock worth $29,000 after acquiring an additional 68 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Cigna Group during the fourth quarter worth about $29,000. Prosperity Bancshares Inc purchased a new stake in Cigna Group during the 4th quarter valued at about $29,000. Finally, Lodestone Wealth Management LLC acquired a new stake in Cigna Group in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insider Activity

In other Cigna Group news, CAO Jamie G. Kates sold 899 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $298.61, for a total value of $268,450.39. Following the transaction, the chief accounting officer owned 2,368 shares of the company’s stock, valued at $707,108.48. This represents a 27.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Cordani sold 201,878 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $292.82, for a total transaction of $59,113,915.96. Following the transaction, the chief executive officer directly owned 34,337 shares of the company’s stock, valued at approximately $10,054,560.34. This trade represents a 85.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

Cigna Group Price Performance

CI stock opened at $297.42 on Thursday. Cigna Group has a 52-week low of $239.51 and a 52-week high of $315.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.69. The stock has a market cap of $78.68 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.16 and a beta of 0.29. The business has a fifty day moving average of $286.64 and a two-hundred day moving average of $281.06.

Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, beating the consensus estimate of $7.60 by $0.19. The business had revenue of $68.52 billion for the quarter, compared to analyst estimates of $66.29 billion. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.The company’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.74 EPS. As a group, research analysts anticipate that Cigna Group will post 30.39 earnings per share for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be issued a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, September 8th. Cigna Group’s payout ratio is 26.45%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of research reports. Mizuho raised their target price on shares of Cigna Group from $330.00 to $340.00 and gave the stock an “outperform” rating in a research note on Monday, June 8th. Wolfe Research reaffirmed an “outperform” rating and issued a $315.00 price target on shares of Cigna Group in a report on Tuesday, June 16th. The Goldman Sachs Group lifted their price objective on Cigna Group from $335.00 to $340.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Wells Fargo & Company boosted their price objective on Cigna Group from $300.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut Cigna Group from a “buy” rating to a “hold” rating and dropped their target price for the company from $303.00 to $302.00 in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Cigna Group currently has an average rating of “Moderate Buy” and a consensus target price of $338.80.

About Cigna Group

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.