New York State Teachers Retirement System Has $64.47 Million Holdings in The Cigna Group (NYSE:CI)

New York State Teachers Retirement System reduced its holdings in The Cigna Group (NYSE:CI) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,451 shares of the health services provider’s stock after selling 8,050 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of The Cigna Group worth $64,465,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Collier Financial bought a new position in The Cigna Group in the 4th quarter worth approximately $32,000. ORG Wealth Partners LLC bought a new position in The Cigna Group in the 4th quarter worth approximately $34,000. Prospera Private Wealth LLC bought a new position in The Cigna Group in the 3rd quarter worth approximately $37,000. Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter worth approximately $37,000. Finally, Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the 3rd quarter worth approximately $45,000. 86.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on CI shares. Barclays dropped their price objective on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price for the company. in a research report on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Truist Financial dropped their target price on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, February 4th. Finally, Raymond James reiterated a “strong-buy” rating and set a $360.00 target price (down previously from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, The Cigna Group currently has an average rating of “Moderate Buy” and an average target price of $373.69.

The Cigna Group Price Performance

CI opened at $292.12 on Friday. The stock has a market cap of $81.25 billion, a P/E ratio of 23.87, a P/E/G ratio of 0.94 and a beta of 0.54. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The company has a fifty day simple moving average of $286.97 and a 200 day simple moving average of $321.46.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter last year, the business earned $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.07%. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.