Louisiana State Employees Retirement System Has $4.14 Million Stake in The Cigna Group (NYSE:CI)

Louisiana State Employees Retirement System reduced its stake in shares of The Cigna Group (NYSE:CI) by 4.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,000 shares of the health services provider’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in The Cigna Group were worth $4,142,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Prospera Private Wealth LLC acquired a new stake in shares of The Cigna Group in the 3rd quarter valued at $37,000. Collier Financial acquired a new stake in The Cigna Group in the fourth quarter worth about $32,000. ORG Wealth Partners LLC acquired a new stake in The Cigna Group in the fourth quarter worth about $34,000. Harbor Capital Advisors Inc. bought a new stake in The Cigna Group during the 3rd quarter worth about $45,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group during the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $292.72 on Thursday. 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 Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The company’s 50 day moving average price is $288.17 and its two-hundred day moving average price is $321.82. The company has a market capitalization of $81.42 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54.

The Cigna Group (NYSE:CI) last issued its quarterly earnings data on Thursday, January 30th. The health services provider reported $6.64 earnings per share (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 company posted $6.79 EPS. On average, analysts expect that The Cigna Group will post 29.8 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 represents a $6.04 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date is Wednesday, March 5th. The Cigna Group’s payout ratio is 45.75%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CI shares. Sanford C. Bernstein cut shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a research report on Thursday, February 6th. 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 report on Monday, February 3rd. Oppenheimer cut their price target on The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday, January 31st. Cantor Fitzgerald decreased their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Finally, Wells Fargo & Company dropped their price objective on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a report on Tuesday, February 4th. Three 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $373.69.

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.