The Cigna Group (NYSE:CI) Position Cut by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in shares of The Cigna Group (NYSE:CI) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 487,929 shares of the health services provider’s stock after selling 6,143 shares during the quarter. New York State Common Retirement Fund’s holdings in The Cigna Group were worth $134,737,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of CI. AMF Tjanstepension AB grew its stake in shares of The Cigna Group by 18.6% in the third quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after purchasing an additional 11,550 shares in the last quarter. Swedbank AB lifted its holdings in The Cigna Group by 26.6% in the third quarter. Swedbank AB now owns 570,283 shares of the health services provider’s stock worth $197,569,000 after purchasing an additional 119,681 shares during the period. Capital Investment Advisors LLC grew its position in The Cigna Group by 5.9% in the 3rd quarter. Capital Investment Advisors LLC now owns 1,188 shares of the health services provider’s stock valued at $412,000 after buying an additional 66 shares in the last quarter. Whittier Trust Co. increased its stake in The Cigna Group by 0.7% during the 3rd quarter. Whittier Trust Co. now owns 6,710 shares of the health services provider’s stock valued at $2,325,000 after buying an additional 45 shares during the period. Finally, Foundations Investment Advisors LLC raised its position in shares of The Cigna Group by 125.6% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,116 shares of the health services provider’s stock worth $1,079,000 after buying an additional 1,735 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CI shares. Cantor Fitzgerald decreased their price objective on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Oppenheimer dropped their price objective on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Barclays decreased their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Royal Bank of Canada cut their price target 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. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Three investment analysts have 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 MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $373.69.

The Cigna Group Stock Performance

Shares of CI stock opened at $294.75 on Wednesday. The company has a market capitalization of $81.98 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 0.94 and a beta of 0.54. The Cigna Group has a 1-year low of $262.03 and a 1-year high of $370.83. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $285.58 and its 200-day simple moving average is $320.08.

The Cigna Group (NYSE:CI) last issued 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 net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the company posted $6.79 earnings per share. On average, sell-side analysts predict that The Cigna Group will post 29.8 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s payout ratio is currently 45.75%.

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.