Cigna Group (NYSE:CI) Stake Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in shares of Cigna Group (NYSE:CI - Free Report) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 496,504 shares of the health services provider's stock after buying an additional 8,575 shares during the period. New York State Common Retirement Fund owned 0.18% of Cigna Group worth $163,350,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. TCTC Holdings LLC purchased a new position in Cigna Group during the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new position in Cigna Group during the fourth quarter valued at $36,000. Transce3nd LLC purchased a new position in Cigna Group during the fourth quarter valued at $38,000. Wayfinding Financial LLC purchased a new position in shares of Cigna Group in the first quarter worth about $40,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Cigna Group in the fourth quarter worth about $44,000. 86.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on CI. Cowen reissued a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Morgan Stanley raised their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Piper Sandler raised their price objective on shares of Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Royal Bank Of Canada restated an "outperform" rating and set a $371.00 price objective on shares of Cigna Group in a research report on Thursday, June 26th. Finally, Guggenheim restated a "buy" rating and set a $388.00 price objective on shares of Cigna Group in a research report on Friday, May 23rd. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Cigna Group has a consensus rating of "Buy" and a consensus price target of $380.39.

Cigna Group Stock Performance

CI stock traded up $3.28 during trading on Wednesday, hitting $305.72. 1,416,200 shares of the company's stock traded hands, compared to its average volume of 1,736,515. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a fifty day moving average price of $315.79 and a two-hundred day moving average price of $310.94. The stock has a market capitalization of $81.67 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.90 and a beta of 0.44.

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

Cigna Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Tuesday, June 3rd. 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.