The Cigna Group (NYSE:CI) Holdings Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its position in shares of The Cigna Group (NYSE:CI) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,315 shares of the health services provider’s stock after purchasing an additional 2,820 shares during the quarter. State of Alaska Department of Revenue’s holdings in The Cigna Group were worth $10,855,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CI. AMF Tjanstepension AB boosted its position in The Cigna Group by 18.6% during the 3rd quarter. AMF Tjanstepension AB now owns 73,600 shares of the health services provider’s stock worth $25,511,000 after acquiring an additional 11,550 shares during the period. Dynamic Advisor Solutions LLC grew its position in The Cigna Group by 10.0% during the third quarter. Dynamic Advisor Solutions LLC now owns 4,643 shares of the health services provider’s stock valued at $1,608,000 after purchasing an additional 421 shares in the last quarter. Atomi Financial Group Inc. increased its stake in The Cigna Group by 9.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 1,590 shares of the health services provider’s stock valued at $551,000 after buying an additional 140 shares during the period. City Holding Co. lifted its position in The Cigna Group by 7.4% in the 3rd quarter. City Holding Co. now owns 3,326 shares of the health services provider’s stock worth $1,152,000 after buying an additional 229 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in The Cigna Group by 3.1% in the 3rd quarter. Brookstone Capital Management now owns 1,338 shares of the health services provider’s stock worth $464,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Down 2.1 %

CI stock opened at $287.08 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.66 and a quick ratio of 0.72. The company has a 50-day moving average of $291.86 and a two-hundred day moving average of $323.32. The stock has a market capitalization of $79.85 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83.

The Cigna Group (NYSE:CI) last released its earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same period last year, the business posted $6.79 earnings per share. As a group, equities research analysts anticipate that The Cigna Group will post 29.66 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a yield of 2.10%. The Cigna Group’s dividend payout ratio is 49.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday. Barclays dropped their target price on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Wells Fargo & Company reduced their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday. Piper Sandler restated an “overweight” rating and issued a $348.00 price objective (down previously from $394.00) on shares of The Cigna Group in a report on Monday. Finally, Morgan Stanley reduced their target price 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. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $373.69.

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.