Maryland State Retirement & Pension System Grows Stock Position in The Cigna Group (NYSE:CI)

Maryland State Retirement & Pension System increased its holdings in shares of The Cigna Group (NYSE:CI) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,729 shares of the health services provider’s stock after buying an additional 242 shares during the quarter. Maryland State Retirement & Pension System’s holdings in The Cigna Group were worth $6,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC lifted its holdings in The Cigna Group by 104.5% during the 3rd quarter. Bogart Wealth LLC now owns 90 shares of the health services provider’s stock worth $26,000 after buying an additional 46 shares during the last quarter. OFI Invest Asset Management purchased a new position in The Cigna Group in the 3rd quarter worth about $26,000. Fortitude Family Office LLC purchased a new position in The Cigna Group in the 4th quarter worth about $29,000. VisionPoint Advisory Group LLC increased its stake in The Cigna Group by 112.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 104 shares of the health services provider’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Finally, Pacifica Partners Inc. grew its stake in The Cigna Group by 73.2% during the 4th quarter. Pacifica Partners Inc. now owns 142 shares of the health services provider’s stock valued at $43,000 after acquiring an additional 60 shares in the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at The Cigna Group

In other The Cigna Group news, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $330.48, for a total value of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other The Cigna Group news, insider Eric P. Palmer sold 1,017 shares of the stock in a transaction dated Friday, February 9th. The stock was 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 in the company, valued at $15,275,786.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hoeltzel Mary T. Agoglia sold 4,867 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $330.48, for a total transaction of $1,608,446.16. Following the transaction, the senior vice president now directly owns 2,102 shares of the company’s stock, valued at approximately $694,668.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,144 shares of company stock worth $39,296,330. Company insiders own 0.70% of the company’s stock.

Analysts Set New Price Targets

CI has been the subject of several analyst reports. Wells Fargo & Company boosted their target price 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. Oppenheimer upped their price target on The Cigna Group from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 14th. Morgan Stanley reaffirmed an “overweight” rating and set a $392.00 price target (up previously from $382.00) on shares of The Cigna Group in a research note on Monday, March 4th. Finally, Deutsche Bank Aktiengesellschaft raised The Cigna Group from a “hold” rating to a “buy” rating and upped their price target for the company from $355.00 to $370.00 in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, The Cigna Group has a consensus rating of “Buy” and a consensus target price of $366.14.

The Cigna Group Trading Up 0.3 %

NYSE:CI traded up $0.91 during mid-day trading on Monday, hitting $342.41. The company had a trading volume of 1,320,046 shares, compared to its average volume of 1,590,367. The Cigna Group has a fifty-two week low of $240.50 and a fifty-two week high of $365.71. The business’s fifty day moving average is $350.77 and its two-hundred day moving average is $319.93. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $97.27 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.04 and a beta of 0.57.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, May 2nd. The health services provider reported $6.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.17 by $0.30. The business had revenue of $57.25 billion during the quarter, compared to analyst estimates of $56.59 billion. The Cigna Group had a return on equity of 17.24% and a net margin of 1.76%. The Cigna Group’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.41 EPS. As a group, research analysts expect that The Cigna Group will post 28.45 earnings per share for the current year.

The Cigna Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, June 4th. The Cigna Group’s payout ratio is presently 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.