New York State Common Retirement Fund Sells 6,143 Shares of The Cigna Group (NYSE:CI)

New York State Common Retirement Fund trimmed its position in The Cigna Group (NYSE:CI - Free Report) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 owned about 0.18% of The Cigna Group worth $134,737,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. International Assets Investment Management LLC raised its stake in The Cigna Group by 49,287.7% during the 3rd quarter. International Assets Investment Management LLC now owns 400,040 shares of the health services provider's stock valued at $138,590,000 after purchasing an additional 399,230 shares during the last quarter. Swedbank AB raised its stake in The Cigna Group by 55.1% during the 4th quarter. Swedbank AB now owns 884,406 shares of the health services provider's stock valued at $244,220,000 after purchasing an additional 314,123 shares during the last quarter. FMR LLC raised its stake in The Cigna Group by 2.0% during the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider's stock valued at $4,929,978,000 after purchasing an additional 279,880 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in The Cigna Group by 68.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 497,875 shares of the health services provider's stock valued at $137,483,000 after purchasing an additional 202,161 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in The Cigna Group during the 3rd quarter valued at $69,972,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

The Cigna Group Price Performance

NYSE:CI traded up $0.24 during mid-day trading on Friday, reaching $299.92. 2,213,736 shares of the company were exchanged, compared to its average volume of 1,806,507. 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 moving average of $285.99 and a 200 day moving average of $319.78. 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 stock has a market cap of $83.42 billion, a PE ratio of 24.50, a PEG ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 EPS 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 in the prior year, the business posted $6.79 EPS. On average, research analysts anticipate that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.01%. This is a positive change from The Cigna Group's previous quarterly dividend of $1.40. The Cigna Group's dividend payout ratio is currently 45.75%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays cut their target price on shares of 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. Piper Sandler restated 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. Royal Bank of Canada dropped 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 research note on Friday, November 1st. UBS Group dropped 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 research note on Monday, February 3rd. Finally, Raymond James restated a "strong-buy" rating and issued a $360.00 price objective (down previously from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $373.69.

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.