Employees Retirement System of Texas Has $9.78 Million Stake in The Cigna Group (NYSE:CI)

Employees Retirement System of Texas grew its position in The Cigna Group (NYSE:CI) by 19.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,432 shares of the health services provider’s stock after buying an additional 5,867 shares during the period. Employees Retirement System of Texas’ holdings in The Cigna Group were worth $9,784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TCTC Holdings LLC acquired a new stake in shares of The Cigna Group in the fourth quarter valued at approximately $25,000. Collier Financial bought a new position in The Cigna Group during the fourth quarter worth about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth approximately $34,000. Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group in the fourth quarter valued at about $37,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group in the 4th quarter valued at about $53,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Noelle K. Eder sold 9,944 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $320.00, for a total value of $3,182,080.00. Following the completion of the transaction, the insider now directly owns 13,406 shares in the company, valued at approximately $4,289,920. The trade was a 42.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elder Granger sold 2,376 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $310.35, for a total value of $737,391.60. Following the transaction, the director now directly owns 5,471 shares in the company, valued at approximately $1,697,924.85. This represents a 30.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,751 shares of company stock worth $13,603,991. Corporate insiders own 0.70% of the company’s stock.

The Cigna Group Stock Performance

NYSE:CI opened at $322.02 on Monday. The business has a fifty day simple moving average of $308.72 and a two-hundred day simple moving average of $312.39. The Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The company has a market capitalization of $88.13 billion, a P/E ratio of 26.31, a P/E/G ratio of 0.98 and a beta of 0.50. 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 Cigna Group (NYSE:CI) last issued its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the firm posted $6.79 EPS. On average, analysts expect that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th were paid a $1.51 dividend. The ex-dividend date was Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 1.88%. The Cigna Group’s dividend payout ratio is currently 49.35%.

Analysts Set New Price Targets

Several analysts have weighed in on CI shares. UBS Group dropped their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Stephens reduced their price objective on The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Wells Fargo & Company dropped their price objective on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays cut their target price on 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 investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and an average target price of $373.25.

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.