California Public Employees Retirement System Sells 11,838 Shares of Cigna Group $CI

California Public Employees Retirement System lessened its holdings in Cigna Group (NYSE:CI) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 758,190 shares of the health services provider’s stock after selling 11,838 shares during the period. California Public Employees Retirement System owned 0.28% of Cigna Group worth $250,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CI. Flaharty Asset Management LLC purchased a new stake in shares of Cigna Group in the 1st quarter valued at about $28,000. 1248 Management LLC purchased a new position in shares of Cigna Group during the first quarter worth about $29,000. Solstein Capital LLC purchased a new position in shares of Cigna Group during the second quarter worth about $29,000. Activest Wealth Management increased its position in shares of Cigna Group by 360.0% in the first quarter. Activest Wealth Management now owns 92 shares of the health services provider’s stock worth $30,000 after purchasing an additional 72 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in Cigna Group in the second quarter valued at approximately $30,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on CI. Wall Street Zen raised shares of Cigna Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Sanford C. Bernstein cut their target price on shares of Cigna Group from $346.00 to $294.00 and set a “market perform” rating for the company in a research report on Wednesday, November 12th. Wolfe Research reduced their target price on Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Leerink Partners dropped their price target on Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Cigna Group in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $334.45.

Cigna Group Stock Performance

Cigna Group stock opened at $265.13 on Monday. The firm has a fifty day simple moving average of $283.21 and a two-hundred day simple moving average of $295.56. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Cigna Group has a twelve month low of $239.51 and a twelve month high of $350.00. The company has a market capitalization of $70.82 billion, a PE ratio of 11.70, a P/E/G ratio of 0.96 and a beta of 0.25.

Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, October 30th. The health services provider reported $7.83 EPS for the quarter, topping the consensus estimate of $7.64 by $0.19. Cigna Group had a return on equity of 18.80% and a net margin of 2.29%.The firm had revenue of $69.57 billion for the quarter, compared to the consensus estimate of $66.40 billion. During the same quarter in the previous year, the business earned $7.51 earnings per share. The company’s quarterly revenue was up 9.5% on a year-over-year basis. Cigna Group has set its FY 2025 guidance at 29.600- EPS. Research analysts expect that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a $1.51 dividend. The ex-dividend date is Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.3%. Cigna Group’s payout ratio is presently 26.64%.

Insider Buying and Selling

In related news, insider Brian C. Evanko sold 5,368 shares of the company’s stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $300.00, for a total transaction of $1,610,400.00. Following the completion of the sale, the insider directly owned 51,182 shares in the company, valued at $15,354,600. This represents a 9.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Cordani purchased 4,134 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $241.88 per share, for a total transaction of $999,931.92. Following the acquisition, the chief executive officer owned 157,935 shares in the company, valued at approximately $38,201,317.80. The trade was a 2.69% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.70% of the company’s stock.

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.