New York State Teachers Retirement System Sells 15,208 Shares of The Cigna Group (NYSE:CI)

New York State Teachers Retirement System reduced its position in The Cigna Group (NYSE:CI) by 5.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 241,501 shares of the health services provider’s stock after selling 15,208 shares during the period. New York State Teachers Retirement System’s holdings in The Cigna Group were worth $83,666,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cedar Wealth Management LLC acquired a new position in shares of The Cigna Group in the first quarter valued at approximately $29,000. TruNorth Capital Management LLC bought a new stake in shares of The Cigna Group during the 2nd quarter valued at $33,000. Ulland Investment Advisors LLC lifted its position in The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in The Cigna Group during the second quarter worth about $66,000. Finally, Private Ocean LLC grew its stake in The Cigna Group by 29.9% during the second quarter. Private Ocean LLC now owns 200 shares of the health services provider’s stock worth $66,000 after buying an additional 46 shares in the last quarter. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

NYSE CI traded up $5.59 during trading on Wednesday, hitting $313.82. 189,669 shares of the company’s stock traded hands, compared to its average volume of 1,500,577. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $89.15 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 1.05 and a beta of 0.50. The Cigna Group has a 12-month low of $253.95 and a 12-month high of $370.83. The business has a 50 day moving average of $347.73 and a 200-day moving average of $342.16.

The Cigna Group (NYSE:CI) last released its quarterly earnings data on Thursday, August 1st. The health services provider reported $6.72 EPS for the quarter, topping the consensus estimate of $6.42 by $0.30. The company had revenue of $60.52 billion during the quarter, compared to the consensus estimate of $58.30 billion. The Cigna Group had a net margin of 1.70% and a return on equity of 17.83%. The Cigna Group’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $6.13 EPS. As a group, equities research analysts anticipate that The Cigna Group will post 28.48 earnings per share for the current fiscal year.

The Cigna Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Wednesday, December 4th. The Cigna Group’s dividend payout ratio is currently 45.98%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CI shares. Stephens reiterated an “overweight” rating and set a $410.00 price target on shares of The Cigna Group in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating and set a $400.00 price target on shares of The Cigna Group in a research note on Wednesday, October 23rd. StockNews.com raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $384.00 target price on shares of The Cigna Group in a research report on Monday, September 9th. Finally, Jefferies Financial Group upped their price target on shares of The Cigna Group from $402.00 to $422.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $392.79.

Insider Buying and Selling at The Cigna Group

In other The Cigna Group news, Director William J. Delaney III sold 2,691 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $342.68, for a total transaction of $922,151.88. Following the completion of the sale, the director now owns 17,539 shares of the company’s stock, valued at $6,010,264.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

About The Cigna Group

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.