Kentucky Retirement Systems Trims Stock Position in Cigna Group (NYSE:CI)

Kentucky Retirement Systems lessened its stake in shares of Cigna Group (NYSE:CI - Free Report) by 4.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,375 shares of the health services provider's stock after selling 835 shares during the quarter. Kentucky Retirement Systems' holdings in Cigna Group were worth $6,045,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Two Sigma Investments LP grew its holdings in Cigna Group by 32.6% during the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock worth $211,219,000 after acquiring an additional 188,235 shares during the period. Humankind Investments LLC grew its holdings in Cigna Group by 12.1% during the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock worth $1,462,000 after acquiring an additional 571 shares during the period. NBC Securities Inc. acquired a new position in Cigna Group during the first quarter worth $123,000. Pine Valley Investments Ltd Liability Co grew its holdings in Cigna Group by 10.5% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 17,366 shares of the health services provider's stock worth $4,796,000 after acquiring an additional 1,653 shares during the period. Finally, BankPlus Trust Department acquired a new position in Cigna Group during the fourth quarter worth $332,000. Hedge funds and other institutional investors own 86.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price objective on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Cowen reaffirmed a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Royal Bank Of Canada reissued an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a report on Tuesday, June 3rd. Piper Sandler upped their target price on Cigna Group from $348.00 to $374.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Finally, Truist Financial upped their target price on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $380.39.

Cigna Group Price Performance

Shares of CI traded up $2.65 during trading hours on Monday, reaching $317.00. 1,248,081 shares of the company traded hands, compared to its average volume of 1,710,776. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $84.68 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 0.93 and a beta of 0.44. Cigna Group has a fifty-two week low of $262.03 and a fifty-two week high of $370.83. The stock has a fifty day simple moving average of $321.48 and a 200 day simple moving average of $307.53.

Cigna Group (NYSE:CI - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating analysts' consensus estimates of $6.35 by $0.39. The business had revenue of $65.45 billion for the quarter, compared to analyst estimates of $60.39 billion. Cigna Group had a return on equity of 18.63% and a net margin of 1.97%. The business's revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter last year, the company earned $6.47 earnings per share. As a group, research analysts predict that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.51 per share. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $6.04 annualized dividend and a yield of 1.91%. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.

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.