Louisiana State Employees Retirement System Has $5.44 Million Stake in The Cigna Group (NYSE:CI)

Louisiana State Employees Retirement System decreased its stake in shares of The Cigna Group (NYSE:CI) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,700 shares of the health services provider’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in The Cigna Group were worth $5,439,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp grew its position in The Cigna Group by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 14,872 shares of the health services provider’s stock valued at $4,916,000 after purchasing an additional 625 shares during the period. Hancock Whitney Corp grew its position in The Cigna Group by 75.6% in the 1st quarter. Hancock Whitney Corp now owns 3,783 shares of the health services provider’s stock valued at $1,374,000 after purchasing an additional 1,629 shares during the period. ORG Partners LLC acquired a new stake in The Cigna Group in the 2nd quarter valued at $489,000. Mirae Asset Global Investments Co. Ltd. grew its position in The Cigna Group by 21.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 94,453 shares of the health services provider’s stock valued at $34,304,000 after purchasing an additional 16,846 shares during the period. Finally, Tidal Investments LLC grew its position in The Cigna Group by 36.0% in the 1st quarter. Tidal Investments LLC now owns 15,276 shares of the health services provider’s stock valued at $5,548,000 after purchasing an additional 4,043 shares during the period. Institutional investors and hedge funds own 86.99% of the company’s stock.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of The Cigna Group stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the transaction, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.60% of the company’s stock.

The Cigna Group Trading Down 0.4 %

Shares of The Cigna Group stock opened at $316.85 on Friday. The Cigna Group has a 52-week low of $253.95 and a 52-week high of $370.83. The stock’s 50-day simple moving average is $348.97 and its 200 day simple moving average is $342.83. The stock has a market capitalization of $90.01 billion, a P/E ratio of 26.01, a P/E/G ratio of 1.05 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71.

The Cigna Group (NYSE:CI) last posted its earnings results on Thursday, August 1st. The health services provider reported $6.72 earnings per share for the quarter, beating analysts’ consensus estimates of $6.42 by $0.30. The business had revenue of $60.52 billion during the quarter, compared to analyst estimates of $58.30 billion. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.13 EPS. As a group, research analysts anticipate that The Cigna Group will post 28.48 EPS for the current year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is presently 45.98%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CI shares. StockNews.com raised shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. Barclays lifted their price objective on shares of The Cigna Group from $393.00 to $405.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $384.00 price objective on shares of The Cigna Group in a report on Monday, September 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $392.79.

The 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.