California State Teachers Retirement System Trims Holdings in Cigna Group $CI

California State Teachers Retirement System decreased its position in shares of Cigna Group (NYSE:CI) by 2.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 405,654 shares of the health services provider’s stock after selling 10,401 shares during the quarter. California State Teachers Retirement System owned 0.15% of Cigna Group worth $108,208,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Evercore Wealth Management LLC lifted its stake in Cigna Group by 2.8% during the 1st quarter. Evercore Wealth Management LLC now owns 1,301 shares of the health services provider’s stock valued at $347,000 after acquiring an additional 35 shares during the period. KCM Investment Advisors LLC raised its holdings in shares of Cigna Group by 4.9% during the first quarter. KCM Investment Advisors LLC now owns 2,129 shares of the health services provider’s stock worth $568,000 after purchasing an additional 100 shares during the last quarter. Glen Eagle Advisors LLC raised its holdings in shares of Cigna Group by 60.9% during the first quarter. Glen Eagle Advisors LLC now owns 177 shares of the health services provider’s stock worth $47,000 after purchasing an additional 67 shares during the last quarter. Quantinno Capital Management LP lifted its position in Cigna Group by 30.0% during the first quarter. Quantinno Capital Management LP now owns 205,037 shares of the health services provider’s stock valued at $54,694,000 after purchasing an additional 47,304 shares during the period. Finally, SummitTX Capital L.P. acquired a new position in Cigna Group during the first quarter valued at $706,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Cordani sold 201,878 shares of Cigna Group stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $292.82, for a total value of $59,113,915.96. Following the sale, the chief executive officer owned 34,337 shares in the company, valued at $10,054,560.34. This trade represents a 85.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Jamie G. Kates sold 899 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $298.61, for a total transaction of $268,450.39. Following the sale, the chief accounting officer directly owned 2,368 shares of the company’s stock, valued at $707,108.48. This represents a 27.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.60% of the company’s stock.

Cigna Group Price Performance

Shares of Cigna Group stock opened at $297.42 on Thursday. The firm has a market cap of $78.68 billion, a PE ratio of 12.61, a P/E/G ratio of 1.16 and a beta of 0.29. Cigna Group has a twelve month low of $239.51 and a twelve month high of $315.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.69. The business has a 50-day moving average price of $286.64 and a 200 day moving average price of $281.06.

Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, April 30th. The health services provider reported $7.79 EPS for the quarter, beating the consensus estimate of $7.60 by $0.19. Cigna Group had a return on equity of 19.75% and a net margin of 2.26%.The company had revenue of $68.52 billion for the quarter, compared to analyst estimates of $66.29 billion. During the same period last year, the company earned $6.74 earnings per share. Cigna Group’s quarterly revenue was up 4.6% compared to the same quarter last year. Sell-side analysts predict that Cigna Group will post 30.39 earnings per share for the current fiscal year.

Cigna Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Tuesday, September 8th will be issued a $1.56 dividend. This represents a $6.24 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 8th. Cigna Group’s payout ratio is presently 26.45%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CI shares. Sanford C. Bernstein increased their price target on Cigna Group from $371.00 to $381.00 and gave the stock an “outperform” rating in a research report on Thursday, July 9th. Wall Street Zen raised Cigna Group from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. Barclays downgraded Cigna Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $310.00 to $304.00 in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft lowered Cigna Group from a “buy” rating to a “hold” rating and dropped their target price for the stock from $303.00 to $302.00 in a report on Wednesday, May 20th. Finally, Royal Bank Of Canada lifted their price target on Cigna Group from $333.00 to $337.00 and gave the company an “outperform” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Cigna Group presently has a consensus rating of “Moderate Buy” and an average target price of $338.80.

Cigna Group Company Profile

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.