The Cigna Group (NYSE:CI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in The Cigna Group (NYSE:CI) by 5.7% in the third quarter, HoldingsChannel reports. The firm owned 494,072 shares of the health services provider’s stock after selling 30,000 shares during the period. New York State Common Retirement Fund’s holdings in The Cigna Group were worth $171,166,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Kovack Advisors Inc. purchased a new position in shares of The Cigna Group during the 1st quarter worth approximately $214,000. Ashton Thomas Private Wealth LLC increased its holdings in shares of The Cigna Group by 4.1% in the 1st quarter. Ashton Thomas Private Wealth LLC now owns 3,012 shares of the health services provider’s stock valued at $1,094,000 after acquiring an additional 119 shares during the last quarter. Norden Group LLC raised its holdings in The Cigna Group by 22.3% during the first quarter. Norden Group LLC now owns 2,355 shares of the health services provider’s stock worth $855,000 after purchasing an additional 429 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in The Cigna Group by 33.2% during the 1st quarter. J.W. Cole Advisors Inc. now owns 3,044 shares of the health services provider’s stock worth $1,106,000 after acquiring an additional 759 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in The Cigna Group during the 1st quarter worth $2,394,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of The Cigna Group stock traded down $6.54 on Friday, reaching $308.27. 207,348 shares of the stock were exchanged, compared to its average volume of 1,514,423. The firm has a market capitalization of $86.18 billion, a PE ratio of 24.78, a PEG ratio of 0.95 and a beta of 0.50. The Cigna Group has a 1-year low of $253.95 and a 1-year high of $370.83. The business has a fifty day moving average price of $346.52 and a two-hundred day moving average price of $341.77. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a return on equity of 17.83% and a net margin of 1.70%. The business had revenue of $63.70 billion during the quarter, compared to analysts’ expectations of $59.58 billion. During the same period last year, the firm earned $6.77 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. As a group, research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.82%. The Cigna Group’s dividend payout ratio (DPR) is presently 44.06%.

Analyst Upgrades and Downgrades

CI has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on The Cigna Group from $435.00 to $438.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Stephens reaffirmed an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a research report on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $384.00 price objective on shares of The Cigna Group in a research note on Monday, September 9th. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, StockNews.com upgraded shares of The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $392.79.

Insider Activity

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

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.