New York State Teachers Retirement System Has $64.47 Million Stock Holdings in The Cigna Group (NYSE:CI)

New York State Teachers Retirement System trimmed its holdings in shares of The Cigna Group (NYSE:CI) by 3.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 233,451 shares of the health services provider’s stock after selling 8,050 shares during the period. New York State Teachers Retirement System’s holdings in The Cigna Group were worth $64,465,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CI. Collier Financial acquired a new position in shares of The Cigna Group during the 4th quarter worth about $32,000. ORG Wealth Partners LLC acquired a new position in shares of The Cigna Group during the 4th quarter worth about $34,000. Prospera Private Wealth LLC acquired a new position in shares of The Cigna Group during the 3rd quarter worth about $37,000. Compagnie Lombard Odier SCmA acquired a new position in shares of The Cigna Group during the 4th quarter worth about $37,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of The Cigna Group during the 3rd quarter worth about $45,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Oppenheimer dropped their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Stephens dropped their target price on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. UBS Group dropped their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a report on Thursday, February 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $348.00 target price (down from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, The Cigna Group has a consensus rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Stock Down 2.6 %

Shares of CI opened at $292.12 on Friday. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. The firm’s 50 day moving average is $286.97 and its 200-day moving average is $321.46. The stock has a market capitalization of $81.25 billion, a PE ratio of 23.87, a P/E/G ratio of 0.94 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70.

The Cigna Group (NYSE:CI) last announced its earnings results on Thursday, January 30th. The health services provider reported $6.64 EPS for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. During the same quarter in the prior year, the firm earned $6.79 EPS. Equities research analysts forecast that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $1.51 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. The Cigna Group’s dividend payout ratio (DPR) is currently 49.35%.

The 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.