The Cigna Group (NYSE:CI) Shares Acquired by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board grew its stake in The Cigna Group (NYSE:CIFree Report) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,347 shares of the health services provider’s stock after acquiring an additional 800 shares during the quarter. New Mexico Educational Retirement Board’s holdings in The Cigna Group were worth $4,390,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CI. Axiom Financial Strategies LLC acquired a new stake in shares of The Cigna Group in the 1st quarter worth $212,000. Fairfield Bush & CO. acquired a new stake in shares of The Cigna Group in the 1st quarter worth $40,000. Cibc World Market Inc. increased its stake in shares of The Cigna Group by 52.6% in the 1st quarter. Cibc World Market Inc. now owns 18,975 shares of the health services provider’s stock worth $4,547,000 after acquiring an additional 6,538 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of The Cigna Group by 6.5% during the 1st quarter. Vontobel Holding Ltd. now owns 9,212 shares of the health services provider’s stock worth $2,265,000 after purchasing an additional 566 shares during the period. Finally, Sequoia Financial Advisors LLC grew its holdings in shares of The Cigna Group by 36.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,283 shares of the health services provider’s stock worth $307,000 after purchasing an additional 343 shares during the period. 85.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CI shares. Deutsche Bank Aktiengesellschaft increased their price target on The Cigna Group from $351.00 to $355.00 and gave the stock a “hold” rating in a report on Tuesday, December 12th. Royal Bank of Canada reiterated a “sector perform” rating and set a $327.00 price target on shares of The Cigna Group in a report on Thursday, November 30th. Oppenheimer reiterated an “outperform” rating and set a $360.00 price target on shares of The Cigna Group in a report on Wednesday. StockNews.com upgraded The Cigna Group from a “buy” rating to a “strong-buy” rating in a report on Friday, November 3rd. Finally, Jefferies Financial Group upgraded The Cigna Group from a “hold” rating to a “buy” rating and raised their target price for the company from $335.00 to $341.00 in a report on Monday, December 11th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.81.

Check Out Our Latest Research Report on CI

The Cigna Group Stock Performance

Shares of CI opened at $308.48 on Thursday. The stock has a 50-day simple moving average of $291.42 and a 200-day simple moving average of $290.36. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $90.27 billion, a PE ratio of 17.40, a PEG ratio of 0.96 and a beta of 0.52. The Cigna Group has a 1 year low of $240.50 and a 1 year high of $319.92.

The Cigna Group (NYSE:CIGet Free Report) last issued its earnings results on Thursday, November 2nd. The health services provider reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.66 by $0.11. The Cigna Group had a return on equity of 12.62% and a net margin of 2.79%. The business had revenue of $49.05 billion for the quarter, compared to analyst estimates of $48.14 billion. During the same quarter last year, the company earned $6.04 EPS. The business’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts predict that The Cigna Group will post 24.82 earnings per share for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Wednesday, December 6th were given a dividend of $1.23 per share. This represents a $4.92 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend was Tuesday, December 5th. The Cigna Group’s dividend payout ratio (DPR) is 27.75%.

About The 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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Institutional Ownership by Quarter for The Cigna Group (NYSE:CI)

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