State of New Jersey Common Pension Fund D Decreases Stake in The Cigna Group (NYSE:CI)

State of New Jersey Common Pension Fund D decreased its position in The Cigna Group (NYSE:CI) by 1.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 102,951 shares of the health services provider’s stock after selling 1,414 shares during the period. State of New Jersey Common Pension Fund D’s holdings in The Cigna Group were worth $28,429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of The Cigna Group during the 3rd quarter worth approximately $37,000. 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. Harbor Capital Advisors Inc. bought a new position in The Cigna Group in the 3rd quarter worth approximately $45,000. Finally, Compagnie Lombard Odier SCmA bought a new position in The Cigna Group in the 4th quarter worth approximately $37,000. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Price Performance

Shares of NYSE:CI opened at $292.12 on Monday. The stock has a market cap of $81.25 billion, a PE ratio of 23.87, a PEG ratio of 0.94 and a beta of 0.54. The company’s fifty day moving average is $286.46 and its 200 day moving average is $320.86. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. 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 (NYSE:CI) last released its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the previous year, the firm posted $6.79 earnings per share. Research analysts anticipate that The Cigna Group will post 29.8 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.07%. The Cigna Group’s payout ratio is presently 45.75%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CI. UBS Group cut their price objective on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a report on Monday, February 3rd. Royal Bank of Canada cut their price objective on shares of The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Raymond James reissued a “strong-buy” rating and issued a $360.00 price target (down from $415.00) on shares of The Cigna Group in a report on Friday, January 31st. Barclays cut their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Finally, StockNews.com downgraded shares of The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Three analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.69.

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.