Kentucky Retirement Systems Sells 1,932 Shares of The Cigna Group (NYSE:CI)

Kentucky Retirement Systems cut its stake in The Cigna Group (NYSE:CI) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,475 shares of the health services provider’s stock after selling 1,932 shares during the quarter. Kentucky Retirement Systems’ holdings in The Cigna Group were worth $6,747,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its position in shares of The Cigna Group by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,341,233 shares of the health services provider’s stock valued at $5,208,593,000 after purchasing an additional 867,180 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of The Cigna Group by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,628,807 shares of the health services provider’s stock valued at $869,078,000 after buying an additional 150,765 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of The Cigna Group by 23.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,138,193 shares of the health services provider’s stock worth $706,822,000 after buying an additional 405,694 shares during the period. AQR Capital Management LLC increased its stake in shares of The Cigna Group by 63.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,547,245 shares of the health services provider’s stock worth $510,467,000 after acquiring an additional 600,215 shares in the last quarter. Finally, Capital World Investors lifted its position in The Cigna Group by 0.6% during the 1st quarter. Capital World Investors now owns 1,186,982 shares of the health services provider’s stock valued at $431,100,000 after acquiring an additional 6,549 shares during the period. 86.99% of the stock is owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 0.7 %

Shares of CI stock opened at $321.53 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.71. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The stock has a market capitalization of $89.43 billion, a P/E ratio of 30.33, a P/E/G ratio of 1.00 and a beta of 0.51. The firm’s 50 day moving average is $338.88 and its 200 day moving average is $339.67.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm had revenue of $63.70 billion for the quarter, compared to the consensus estimate of $59.58 billion. During the same period last year, the business posted $6.77 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s payout ratio is currently 52.83%.

Wall Street Analysts Forecast Growth

CI has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped 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. StockNews.com lowered The Cigna Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $400.00 target price on shares of The Cigna Group in a report on Wednesday, October 23rd. Jefferies Financial Group raised their price target on The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Finally, Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $394.64.

Insider Transactions at The Cigna Group

In other news, Director William J. Delaney III sold 2,691 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $342.68, for a total value of $922,151.88. Following the completion of the sale, the director now directly owns 17,539 shares in the company, valued at $6,010,264.52. This represents a 13.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.

The Cigna Group Company 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.