Cigna Group (NYSE:CI) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lessened its position in Cigna Group (NYSE:CI) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 23,573 shares of the health services provider’s stock after selling 290 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Cigna Group were worth $7,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. TCTC Holdings LLC acquired a new stake in shares of Cigna Group in the 4th quarter worth about $25,000. Putney Financial Group LLC acquired a new position in Cigna Group during the 4th quarter valued at about $36,000. Transce3nd LLC acquired a new position in Cigna Group during the 4th quarter valued at about $38,000. Ameriflex Group Inc. acquired a new position in Cigna Group during the 4th quarter valued at about $44,000. Finally, Heck Capital Advisors LLC acquired a new position in Cigna Group during the 4th quarter valued at about $53,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Guggenheim reissued a “buy” rating and set a $388.00 target price on shares of Cigna Group in a research note on Friday, May 23rd. Morgan Stanley lifted their price objective on shares of Cigna Group from $379.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Cowen reaffirmed a “buy” rating on shares of Cigna Group in a research note on Monday, May 5th. Mizuho lifted their price objective on shares of Cigna Group from $360.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 9th. Finally, Robert W. Baird lowered their price objective on shares of Cigna Group from $388.00 to $362.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Cigna Group currently has an average rating of “Buy” and an average target price of $380.39.

Cigna Group Stock Performance

CI stock opened at $320.44 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $85.60 billion, a P/E ratio of 17.74, a P/E/G ratio of 0.99 and a beta of 0.44. The firm has a 50 day simple moving average of $320.38 and a 200 day simple moving average of $308.69. Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Friday, May 2nd. The health services provider reported $6.74 EPS for the quarter, topping the consensus estimate of $6.35 by $0.39. The business had revenue of $65.45 billion during the quarter, compared to analysts’ expectations of $60.39 billion. Cigna Group had a net margin of 1.97% and a return on equity of 18.63%. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $6.47 earnings per share. Research analysts anticipate that Cigna Group will post 29.77 earnings per share for the current fiscal year.

Cigna Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $1.51 per share. This represents a $6.04 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, June 3rd. Cigna Group’s payout ratio is presently 33.44%.

About 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.