Texas Permanent School Fund Corp Decreases Stock Position in Cigna Group $CI

Texas Permanent School Fund Corp lessened its stake in Cigna Group (NYSE:CI) by 36.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,748 shares of the health services provider’s stock after selling 10,937 shares during the period. Texas Permanent School Fund Corp’s holdings in Cigna Group were worth $6,198,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in Cigna Group by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,056,806 shares of the health services provider’s stock valued at $3,966,690,000 after purchasing an additional 1,094,327 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Cigna Group by 1.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,778,472 shares of the health services provider’s stock valued at $3,893,727,000 after buying an additional 123,479 shares during the last quarter. Dodge & Cox raised its holdings in Cigna Group by 0.7% during the 2nd quarter. Dodge & Cox now owns 8,950,610 shares of the health services provider’s stock valued at $2,958,893,000 after buying an additional 60,877 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in Cigna Group by 86,071.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 3,475,282 shares of the health services provider’s stock valued at $1,148,859,000 after buying an additional 3,471,249 shares during the period. Finally, Norges Bank bought a new stake in Cigna Group in the 2nd quarter worth $1,110,426,000. 86.99% of the stock is currently owned by institutional investors.

Cigna Group Stock Performance

Cigna Group stock opened at $276.12 on Wednesday. The stock’s 50 day simple moving average is $279.29 and its two-hundred day simple moving average is $293.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.76 and a current ratio of 0.76. The stock has a market cap of $73.76 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.01 and a beta of 0.26. Cigna Group has a fifty-two week low of $239.51 and a fifty-two week high of $350.00.

Cigna Group (NYSE:CI) last announced its earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (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 during the quarter, compared to analyst estimates of $66.40 billion. During the same quarter in the prior year, the company earned $7.51 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. Cigna Group has set its FY 2025 guidance at 29.600- EPS. As a group, analysts expect that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The company 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 dividend of $1.51 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $6.04 annualized dividend and a yield of 2.2%. Cigna Group’s dividend payout ratio (DPR) is currently 26.64%.

Insiders Place Their Bets

In other Cigna Group news, CEO David Cordani bought 4,134 shares of Cigna Group stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $241.88 per share, with a total value of $999,931.92. Following the transaction, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at $38,201,317.80. This represents a 2.69% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian C. Evanko sold 5,368 shares of Cigna Group stock in a transaction dated 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 transaction, the insider directly owned 51,182 shares of the company’s stock, valued at approximately $15,354,600. This trade represents a 9.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wolfe Research lowered their price objective on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating for the company in a research note on Wednesday, October 15th. The Goldman Sachs Group reduced their price target on Cigna Group from $370.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cigna Group in a report on Monday. Robert W. Baird cut their price objective on Cigna Group from $372.00 to $315.00 and set an “outperform” rating on the stock in a research report on Thursday, December 11th. Finally, Cantor Fitzgerald reduced their target price on Cigna Group from $365.00 to $325.00 in a research note on Friday, October 31st. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, Cigna Group currently has an average rating of “Moderate Buy” and a consensus price target of $331.83.

About 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.