Teacher Retirement System of Texas Has $36.88 Million Stock Holdings in Cigna Group (NYSE:CI)

Teacher Retirement System of Texas cut its position in shares of Cigna Group (NYSE:CI - Free Report) by 27.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,084 shares of the health services provider's stock after selling 43,169 shares during the quarter. Teacher Retirement System of Texas' holdings in Cigna Group were worth $36,876,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CI. Sebold Capital Management Inc. lifted its holdings in shares of Cigna Group by 22.4% in the first quarter. Sebold Capital Management Inc. now owns 1,142 shares of the health services provider's stock valued at $376,000 after purchasing an additional 209 shares in the last quarter. Private Trust Co. NA grew its holdings in shares of Cigna Group by 3.6% during the first quarter. Private Trust Co. NA now owns 2,208 shares of the health services provider's stock valued at $726,000 after buying an additional 76 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in Cigna Group by 10.6% during the first quarter. Pinnacle Financial Partners Inc now owns 885 shares of the health services provider's stock valued at $291,000 after buying an additional 85 shares during the period. Aaron Wealth Advisors LLC lifted its stake in Cigna Group by 48.1% in the 1st quarter. Aaron Wealth Advisors LLC now owns 2,069 shares of the health services provider's stock worth $681,000 after acquiring an additional 672 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA purchased a new stake in Cigna Group in the 1st quarter worth about $79,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Cigna Group Stock Down 0.3%

Shares of CI traded down $0.92 during trading hours on Friday, hitting $319.48. 852,424 shares of the company were exchanged, compared to its average volume of 1,743,646. 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 cap of $85.35 billion, a PE ratio of 17.69, a PEG ratio of 0.95 and a beta of 0.44. The firm's 50 day moving average is $319.74 and its 200-day moving average is $309.56. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

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 for the quarter, topping the consensus estimate of $6.35 by $0.39. The firm had revenue of $65.45 billion during 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 company's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the previous year, the company earned $6.47 EPS. On average, equities research analysts forecast that Cigna Group will post 29.77 EPS for the current fiscal year.

Cigna Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were paid a $1.51 dividend. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Tuesday, June 3rd. Cigna Group's payout ratio is 33.44%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CI shares. Truist Financial lifted their target price on Cigna Group from $385.00 to $405.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Guggenheim restated a "buy" rating and set a $388.00 price target on shares of Cigna Group in a report on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Cigna Group in a research note on Monday, May 5th. Barclays reiterated an "overweight" rating and issued a $385.00 target price (up previously from $382.00) on shares of Cigna Group in a research report on Monday, June 2nd. Finally, Wall Street Zen upgraded shares of Cigna Group from a "buy" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, Cigna Group has a consensus rating of "Buy" and a consensus price target of $380.39.

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.