Public Employees Retirement System of Ohio Decreases Holdings in The Cigna Group (NYSE:CI)

Public Employees Retirement System of Ohio lowered its position in The Cigna Group (NYSE:CI - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,236 shares of the health services provider's stock after selling 2,730 shares during the period. Public Employees Retirement System of Ohio owned about 0.05% of The Cigna Group worth $49,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CI. Sequoia Financial Advisors LLC raised its holdings in shares of The Cigna Group by 23.1% in the second quarter. Sequoia Financial Advisors LLC now owns 4,626 shares of the health services provider's stock valued at $1,529,000 after purchasing an additional 868 shares during the last quarter. Cooper Financial Group increased its holdings in The Cigna Group by 54.2% during the second quarter. Cooper Financial Group now owns 2,738 shares of the health services provider's stock worth $905,000 after buying an additional 962 shares during the last quarter. Burke & Herbert Bank & Trust Co. increased its holdings in The Cigna Group by 11.9% during the second quarter. Burke & Herbert Bank & Trust Co. now owns 5,703 shares of the health services provider's stock worth $1,885,000 after buying an additional 606 shares during the last quarter. FCG Investment Co increased its holdings in The Cigna Group by 3.6% during the second quarter. FCG Investment Co now owns 3,762 shares of the health services provider's stock worth $1,244,000 after buying an additional 129 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in The Cigna Group by 3.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 35,851 shares of the health services provider's stock worth $11,851,000 after buying an additional 1,073 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analysts Forecast Growth

CI has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $400.00 price objective on shares of The Cigna Group in a report on Wednesday, October 23rd. Stephens restated an "overweight" rating and set a $410.00 price objective on shares of The Cigna Group in a report on Friday, November 1st. Jefferies Financial Group lifted their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. JPMorgan Chase & Co. lifted their target price on shares of The Cigna Group from $435.00 to $438.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada reduced their target price 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. One analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $394.64.

The Cigna Group Price Performance

The Cigna Group stock traded up $1.15 during mid-day trading on Monday, hitting $318.96. 1,390,552 shares of the company traded hands, compared to its average volume of 1,543,547. The Cigna Group has a one year low of $288.88 and a one year high of $370.83. The stock has a market cap of $88.72 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 0.96 and a beta of 0.50. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average price of $331.01 and a 200-day moving average price of $338.05.

The Cigna Group (NYSE:CI - Get Free Report) last announced its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.22 by $0.29. The Cigna Group had a net margin of 1.31% and a return on equity of 18.42%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same period in the previous year, the business posted $6.77 earnings per share. The Cigna Group's revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities analysts predict that The Cigna Group will post 28.49 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.76%. The Cigna Group's payout ratio is presently 52.83%.

About The Cigna Group

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.