The Cigna Group (NYSE:CI) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its holdings in shares of The Cigna Group (NYSE:CI - Free Report) by 6.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,640 shares of the health services provider's stock after selling 11,227 shares during the period. Retirement Systems of Alabama owned approximately 0.06% of The Cigna Group worth $56,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fiduciary Financial Group LLC purchased a new stake in shares of The Cigna Group during the second quarter valued at $362,000. Blue Trust Inc. lifted its position in The Cigna Group by 65.8% during the 2nd quarter. Blue Trust Inc. now owns 1,530 shares of the health services provider's stock worth $556,000 after acquiring an additional 607 shares during the period. Foster Victor Wealth Advisors LLC grew its stake in The Cigna Group by 12.5% during the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 43,748 shares of the health services provider's stock valued at $14,862,000 after purchasing an additional 4,844 shares during the last quarter. Gladius Capital Management LP acquired a new position in shares of The Cigna Group in the second quarter valued at about $1,091,000. Finally, E&G Advisors LP raised its stake in shares of The Cigna Group by 8.8% in the second quarter. E&G Advisors LP now owns 2,037 shares of the health services provider's stock worth $673,000 after purchasing an additional 164 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Trading Down 0.4 %

Shares of NYSE CI traded down $1.10 during midday trading on Friday, reaching $281.86. 3,277,306 shares of the stock were exchanged, compared to its average volume of 1,582,047. The Cigna Group has a twelve month low of $279.88 and a twelve month high of $370.83. The stock has a market capitalization of $78.40 billion, a P/E ratio of 26.59, a PEG ratio of 0.88 and a beta of 0.50. The company has a 50 day simple moving average of $326.45 and a 200 day simple moving average of $336.73. 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 Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to analysts' expectations of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The firm's quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm earned $6.77 earnings per share. As a group, equities analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.

The Cigna Group Announces Dividend

The business also recently declared 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, December 4th. The Cigna Group's dividend payout ratio is presently 52.83%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CI. Piper Sandler reiterated an "overweight" rating and issued a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a report on Tuesday, November 5th. Jefferies Financial Group raised their target price on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. StockNews.com lowered shares of The Cigna Group from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Royal Bank of Canada dropped their price target on shares of The Cigna Group from $384.00 to $377.00 and set an "outperform" rating on the stock in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of The Cigna Group from $435.00 to $438.00 and gave the company an "overweight" rating in a research note on Wednesday, August 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, The Cigna Group currently has a consensus rating of "Buy" and an average price target of $394.64.

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.