Retirement Systems of Alabama trimmed its stake in Cigna Group (NYSE:CI - Free Report) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,332 shares of the health services provider's stock after selling 2,534 shares during the period. Retirement Systems of Alabama owned about 0.06% of Cigna Group worth $52,420,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP boosted its position in Cigna Group by 32.6% in the fourth quarter. Two Sigma Investments LP now owns 764,900 shares of the health services provider's stock valued at $211,219,000 after buying an additional 188,235 shares in the last quarter. Humankind Investments LLC boosted its position in Cigna Group by 12.1% in the fourth quarter. Humankind Investments LLC now owns 5,294 shares of the health services provider's stock valued at $1,462,000 after buying an additional 571 shares in the last quarter. NBC Securities Inc. acquired a new position in Cigna Group in the first quarter valued at about $123,000. Pine Valley Investments Ltd Liability Co boosted its position in Cigna Group by 10.5% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 17,366 shares of the health services provider's stock valued at $4,796,000 after buying an additional 1,653 shares in the last quarter. Finally, BankPlus Trust Department acquired a new position in Cigna Group in the fourth quarter valued at about $332,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on CI shares. Cowen reiterated a "buy" rating on shares of Cigna Group in a research report on Monday, May 5th. Barclays reiterated an "overweight" rating and set a $385.00 target price (up from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Cantor Fitzgerald upped their target price on shares of Cigna Group from $350.00 to $365.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. Robert W. Baird reduced their target price on shares of Cigna Group from $388.00 to $362.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, Guggenheim reiterated a "buy" rating and set a $388.00 target price on shares of Cigna Group in a research report on Friday, May 23rd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Cigna Group has a consensus rating of "Buy" and an average target price of $380.39.
View Our Latest Analysis on Cigna Group
Cigna Group Stock Up 0.6%
Shares of NYSE:CI opened at $314.34 on Friday. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $83.97 billion, a PE ratio of 17.41, a PEG ratio of 0.93 and a beta of 0.44. The company has a 50 day moving average price of $321.79 and a two-hundred day moving average price of $307.93.
Cigna Group (NYSE:CI - Get Free Report) last issued its earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, beating the consensus estimate of $6.35 by $0.39. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The firm had revenue of $65.45 billion during the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the prior year, the firm earned $6.47 earnings per share. The business's quarterly revenue was up 14.4% on a year-over-year basis. Analysts forecast that Cigna Group will post 29.77 earnings per share for the current year.
Cigna Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a $1.51 dividend. This represents a $6.04 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group's dividend payout ratio (DPR) is presently 33.44%.
About Cigna Group
(
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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