Kentucky Retirement Systems Sells 265 Shares of The Cigna Group (NYSE:CI)

Kentucky Retirement Systems cut its stake in shares of The Cigna Group (NYSE:CI) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,210 shares of the health services provider’s stock after selling 265 shares during the period. Kentucky Retirement Systems’ holdings in The Cigna Group were worth $5,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Prospera Private Wealth LLC bought a new stake in shares of The Cigna Group in the 3rd quarter worth about $37,000. Collier Financial purchased a new stake in The Cigna Group in the 4th quarter worth about $32,000. ORG Wealth Partners LLC bought a new stake in The Cigna Group in the fourth quarter worth about $34,000. Harbor Capital Advisors Inc. purchased a new position in shares of The Cigna Group during the third quarter valued at approximately $45,000. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of The Cigna Group during the fourth quarter valued at approximately $37,000. 86.99% of the stock is owned by institutional investors.

The Cigna Group Stock Performance

Shares of NYSE:CI opened at $299.92 on Friday. The firm has a 50 day moving average of $286.35 and a 200 day moving average of $319.60. The company has a quick ratio of 0.72, a current ratio of 0.66 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $83.42 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 0.98 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 quarterly 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 period in the prior year, the business earned $6.79 earnings per share. On average, sell-side analysts predict that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be issued a $1.51 dividend. This is a boost from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is currently 45.75%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CI shares. Wells Fargo & Company decreased their price target on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Stephens decreased their target price on 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. UBS Group lowered their target price on shares of The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Truist Financial reduced 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, February 4th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group currently has a consensus rating of “Buy” and a consensus price target of $373.69.

The Cigna Group Company 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.