Texas Permanent School Fund Corp Acquires 46 Shares of The Cigna Group (NYSE:CI)

Texas Permanent School Fund Corp boosted its holdings in The Cigna Group (NYSE:CI) by 0.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,468 shares of the health services provider’s stock after acquiring an additional 46 shares during the quarter. Texas Permanent School Fund Corp’s holdings in The Cigna Group were worth $21,961,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Hanson & Doremus Investment Management boosted its stake in shares of The Cigna Group by 3.5% in the 1st quarter. Hanson & Doremus Investment Management now owns 867 shares of the health services provider’s stock worth $315,000 after buying an additional 29 shares during the last quarter. Capital Asset Advisory Services LLC boosted its stake in shares of The Cigna Group by 2.3% in the 1st quarter. Capital Asset Advisory Services LLC now owns 1,280 shares of the health services provider’s stock worth $464,000 after buying an additional 29 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of The Cigna Group by 10.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 335 shares of the health services provider’s stock worth $122,000 after buying an additional 32 shares during the last quarter. First Financial Corp IN boosted its stake in shares of The Cigna Group by 17.2% in the 1st quarter. First Financial Corp IN now owns 225 shares of the health services provider’s stock worth $82,000 after buying an additional 33 shares during the last quarter. Finally, Somerset Trust Co boosted its stake in shares of The Cigna Group by 1.6% in the 1st quarter. Somerset Trust Co now owns 2,209 shares of the health services provider’s stock worth $802,000 after buying an additional 34 shares during the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of The Cigna Group stock traded up $3.65 during trading on Thursday, hitting $333.56. The stock had a trading volume of 1,142,642 shares, compared to its average volume of 1,609,497. The firm has a market cap of $94.75 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 0.99 and a beta of 0.52. The Cigna Group has a 12 month low of $253.95 and a 12 month high of $365.71. The business’s 50-day moving average is $336.55 and its 200 day moving average is $334.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, May 2nd. The health services provider reported $6.47 earnings per share for the quarter, topping the consensus estimate of $6.17 by $0.30. The firm had revenue of $57.25 billion for the quarter, compared to analysts’ expectations of $56.59 billion. The Cigna Group had a net margin of 1.76% and a return on equity of 17.24%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.41 earnings per share. As a group, sell-side analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current year.

The Cigna Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Tuesday, June 4th were issued a $1.40 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $5.60 annualized dividend and a dividend yield of 1.68%. The Cigna Group’s payout ratio is currently 45.98%.

Insider Transactions at The Cigna Group

In related news, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $345.01, for a total value of $1,654,322.95. Following the completion of the transaction, the insider now directly owns 39,923 shares in the company, valued at $13,773,834.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other The Cigna Group news, Director Elder Granger sold 547 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $331.38, for a total transaction of $181,264.86. Following the completion of the sale, the director now directly owns 5,471 shares in the company, valued at $1,812,979.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Brian C. Evanko sold 4,795 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $345.01, for a total transaction of $1,654,322.95. Following the sale, the insider now owns 39,923 shares of the company’s stock, valued at $13,773,834.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,988 shares of company stock valued at $7,975,726. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CI shares. StockNews.com downgraded The Cigna Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 12th. Baird R W upgraded The Cigna Group to a “strong-buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on The Cigna Group from $432.00 to $435.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $400.00 price objective on shares of The Cigna Group in a research note on Wednesday. Finally, Piper Sandler started coverage on The Cigna Group in a research note on Wednesday, June 26th. They issued an “overweight” rating and a $400.00 price objective on the stock. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, The Cigna Group has a consensus rating of “Buy” and an average price target of $376.20.

About The 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.