Teachers Retirement System of The State of Kentucky reduced its stake in shares of The Cigna Group (NYSE:CI - Free Report) by 8.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,609 shares of the health services provider's stock after selling 2,081 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in The Cigna Group were worth $7,486,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Sunbelt Securities Inc. grew its holdings in The Cigna Group by 24.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 216 shares of the health services provider's stock valued at $75,000 after buying an additional 43 shares in the last quarter. Empire Financial Management Company LLC grew its stake in The Cigna Group by 7.4% during the third quarter. Empire Financial Management Company LLC now owns 2,822 shares of the health services provider's stock valued at $978,000 after acquiring an additional 195 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in The Cigna Group by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,016 shares of the health services provider's stock worth $1,731,000 after acquiring an additional 512 shares during the period. Geode Capital Management LLC lifted its stake in The Cigna Group by 0.4% in the 3rd quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider's stock worth $2,021,563,000 after purchasing an additional 22,408 shares in the last quarter. Finally, Brophy Wealth Management LLC purchased a new position in shares of The Cigna Group during the 3rd quarter valued at $869,000. Hedge funds and other institutional investors own 86.99% of the company's stock.
The Cigna Group Stock Down 0.4 %
Shares of NYSE:CI traded down $1.10 on Friday, hitting $281.86. 2,953,943 shares of the company traded hands, compared to its average volume of 1,582,047. The company has a market cap of $78.40 billion, a PE ratio of 26.69, a PEG ratio of 0.88 and a beta of 0.50. The stock has a 50 day simple moving average of $327.65 and a 200-day simple moving average of $337.08. The Cigna Group has a 52 week low of $279.88 and a 52 week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71.
The Cigna Group (NYSE:CI - Get Free Report) last posted its earnings results on Thursday, October 31st. The health services provider reported $7.51 EPS for the quarter, topping analysts' consensus estimates of $7.22 by $0.29. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The business had revenue of $63.70 billion during the quarter, compared to analyst estimates of $59.58 billion. During the same quarter last year, the company earned $6.77 EPS. The company's quarterly revenue was up 29.8% compared to the same quarter last year. As a group, research analysts expect that The Cigna Group will post 28.5 earnings per share for the current year.
The Cigna Group Announces Dividend
The firm 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 $1.40 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $5.60 annualized dividend and a yield of 1.99%. The Cigna Group's payout ratio is presently 52.83%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and issued a $394.00 price objective (up previously from $392.00) on shares of The Cigna Group in a research report on Tuesday, November 5th. Barclays lifted their price target on The Cigna Group from $405.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. Jefferies Financial Group upped their price objective on shares of The Cigna Group from $402.00 to $422.00 and gave the stock a "buy" rating in a research report on Tuesday, September 17th. Cantor Fitzgerald reiterated an "overweight" rating and set a $400.00 target price on shares of The Cigna Group in a research report on Wednesday, October 23rd. Finally, Stephens reissued an "overweight" rating and issued a $410.00 price target on shares of The Cigna Group in a report on Friday, November 1st. One investment 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 data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $394.64.
Check Out Our Latest Report on CI
The Cigna Group Profile
(
Free Report)
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.
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