Retirement Systems of Alabama Sells 774 Shares of The Cigna Group (NYSE:CI)

Retirement Systems of Alabama reduced its stake in The Cigna Group (NYSE:CI) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 161,866 shares of the health services provider’s stock after selling 774 shares during the quarter. Retirement Systems of Alabama’s holdings in The Cigna Group were worth $44,698,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. ORG Wealth Partners LLC bought a new stake in shares of The Cigna Group in the 4th quarter worth about $34,000. Ulland Investment Advisors LLC increased its holdings in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of The Cigna Group during the 3rd quarter worth about $37,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the 3rd quarter worth about $45,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of The Cigna Group during the 4th quarter worth about $53,000. 86.99% of the stock is currently owned by institutional investors.

The Cigna Group Trading Down 0.2 %

NYSE:CI opened at $291.84 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The firm has a market cap of $81.17 billion, a P/E ratio of 23.84, a P/E/G ratio of 0.97 and a beta of 0.54. The firm has a 50-day simple moving average of $293.59 and a 200-day simple moving average of $323.84. The Cigna Group has a one year low of $262.03 and a one year high of $370.83.

The Cigna Group (NYSE:CI) last posted its quarterly earnings data 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 business posted $6.79 EPS. Equities analysts anticipate that The Cigna Group will post 29.66 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be paid a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is 45.75%.

Analysts Set New Price Targets

A number of research firms recently commented on CI. Morgan Stanley dropped their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Truist Financial dropped their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $348.00 price objective (down from $394.00) on shares of The Cigna Group in a research report on Monday. Finally, Stephens lowered their price objective on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $376.63.

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.