Louisiana State Employees Retirement System Sells 400 Shares of The Cigna Group (NYSE:CI)

Louisiana State Employees Retirement System reduced its position in shares of The Cigna Group (NYSE:CI) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,700 shares of the health services provider’s stock after selling 400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in The Cigna Group were worth $5,439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CI. Cedar Wealth Management LLC bought a new stake in The Cigna Group during the first quarter worth $29,000. TruNorth Capital Management LLC bought a new position in shares of The Cigna Group in the second quarter valued at about $33,000. Ulland Investment Advisors LLC raised its position in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of The Cigna Group in the second quarter valued at about $66,000. Finally, Private Ocean LLC raised its position in shares of The Cigna Group by 29.9% in the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock valued at $66,000 after purchasing an additional 46 shares during the period. 86.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of The Cigna Group from $435.00 to $438.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Jefferies Financial Group increased their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Royal Bank of Canada restated an “outperform” rating and issued a $384.00 price target on shares of The Cigna Group in a research note on Monday, September 9th. StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Barclays upped their price target on shares of The Cigna Group from $393.00 to $405.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $392.79.

Insider Activity at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were 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 in the company, valued at approximately $6,010,264.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

The Cigna Group Trading Down 0.4 %

Shares of The Cigna Group stock opened at $316.85 on Friday. The company has a market capitalization of $90.01 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.05 and a beta of 0.50. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.73. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The firm’s 50-day moving average price is $348.97 and its two-hundred day moving average price is $342.83.

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

The Cigna Group Announces Dividend

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

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.