New York State Teachers Retirement System Has $70.22 Million Stake in Cigna Group (NYSE:CI)

New York State Teachers Retirement System trimmed its position in shares of Cigna Group (NYSE:CI - Free Report) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,442 shares of the health services provider's stock after selling 20,009 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Cigna Group worth $70,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Cigna Group in the 4th quarter worth approximately $867,785,000. T. Rowe Price Investment Management Inc. acquired a new stake in Cigna Group in the 4th quarter worth approximately $724,517,000. GAMMA Investing LLC lifted its holdings in Cigna Group by 58,799.0% in the 1st quarter. GAMMA Investing LLC now owns 1,774,626 shares of the health services provider's stock worth $583,852,000 after purchasing an additional 1,771,613 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Cigna Group in the 4th quarter worth approximately $313,911,000. Finally, GQG Partners LLC lifted its holdings in Cigna Group by 22.4% in the 4th quarter. GQG Partners LLC now owns 4,021,582 shares of the health services provider's stock worth $1,110,520,000 after purchasing an additional 737,099 shares during the last quarter. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CI has been the subject of several analyst reports. Barclays restated an "overweight" rating and issued a $385.00 target price (up from $382.00) on shares of Cigna Group in a report on Monday, June 2nd. Royal Bank Of Canada restated an "outperform" rating and issued a $371.00 target price on shares of Cigna Group in a report on Thursday. Morgan Stanley boosted their target price on Cigna Group from $379.00 to $390.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Piper Sandler upped their price target on Cigna Group from $348.00 to $374.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Cowen reiterated a "buy" rating on shares of Cigna Group in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Cigna Group has an average rating of "Buy" and a consensus target price of $380.39.

Cigna Group Stock Performance

CI opened at $326.68 on Monday. The stock has a market cap of $87.27 billion, a PE ratio of 18.09, a P/E/G ratio of 0.97 and a beta of 0.44. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.65. Cigna Group has a 1 year low of $262.03 and a 1 year high of $370.83. The stock's 50 day simple moving average is $320.64 and its 200-day simple moving average is $308.08.

Cigna Group (NYSE:CI - Get Free Report) last released its quarterly earnings data 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 business 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%. Cigna Group's quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $6.47 earnings per share. Sell-side analysts forecast that Cigna Group will post 29.77 EPS for the current year.

Cigna Group Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is 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.

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