New York State Teachers Retirement System Decreases Stake in The Cigna Group (NYSE:CI)

New York State Teachers Retirement System decreased its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 233,451 shares of the health services provider's stock after selling 8,050 shares during the period. New York State Teachers Retirement System owned 0.08% of The Cigna Group worth $64,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CI. V Square Quantitative Management LLC increased its position in shares of The Cigna Group by 5.6% during the fourth quarter. V Square Quantitative Management LLC now owns 6,084 shares of the health services provider's stock valued at $1,680,000 after acquiring an additional 323 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. Northern Financial Advisors Inc bought a new stake in shares of The Cigna Group during the fourth quarter valued at approximately $208,000. Vontobel Holding Ltd. increased its position in shares of The Cigna Group by 5.7% during the fourth quarter. Vontobel Holding Ltd. now owns 24,778 shares of the health services provider's stock valued at $6,842,000 after acquiring an additional 1,334 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in The Cigna Group by 2.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 125,898 shares of the health services provider's stock worth $35,080,000 after purchasing an additional 3,565 shares during the last quarter. Institutional investors own 86.99% of the company's stock.

The Cigna Group Trading Up 0.9 %

Shares of CI stock traded up $2.52 during trading hours on Wednesday, reaching $297.27. 1,734,517 shares of the stock were exchanged, compared to its average volume of 1,805,150. The Cigna Group has a 12-month low of $262.03 and a 12-month 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 company's 50-day moving average price is $285.58 and its 200-day moving average price is $320.08. The firm has a market capitalization of $82.69 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 0.96 and a beta of 0.54.

The Cigna Group (NYSE:CI - Get Free Report) 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 the consensus estimate 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 earned $6.79 earnings per share. As a group, equities analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be given a dividend of $1.51 per share. 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 yield of 2.03%. The Cigna Group's dividend payout ratio is presently 45.75%.

Analyst Ratings Changes

CI has been the topic of several research reports. Truist Financial dropped their target price on shares of The Cigna Group from $390.00 to $375.00 and set a "buy" rating on the stock in a report on Tuesday, February 4th. Cantor Fitzgerald dropped their target price on shares of The Cigna Group from $400.00 to $350.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Royal Bank of Canada dropped their target price on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Morgan Stanley dropped their target price on shares of The Cigna Group from $403.00 to $379.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Finally, 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 on the stock. in a report on Thursday, February 6th. Three research 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.