Illinois Municipal Retirement Fund Purchases 19,064 Shares of The Cigna Group (NYSE:CI)

Illinois Municipal Retirement Fund boosted its holdings in shares of The Cigna Group (NYSE:CI) by 50.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,943 shares of the health services provider’s stock after buying an additional 19,064 shares during the period. Illinois Municipal Retirement Fund’s holdings in The Cigna Group were worth $15,724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CI. FMR LLC increased its holdings in shares of The Cigna Group by 2.0% in the 3rd quarter. FMR LLC now owns 14,230,397 shares of the health services provider’s stock worth $4,929,978,000 after buying an additional 279,880 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in The Cigna Group by 1.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,054,958 shares of the health services provider’s stock valued at $3,829,880,000 after acquiring an additional 130,048 shares during the last quarter. Geode Capital Management LLC increased its stake in The Cigna Group by 0.4% in the third quarter. Geode Capital Management LLC now owns 5,855,443 shares of the health services provider’s stock valued at $2,021,563,000 after acquiring an additional 22,408 shares during the last quarter. Parnassus Investments LLC raised its position in The Cigna Group by 2.1% during the third quarter. Parnassus Investments LLC now owns 2,922,121 shares of the health services provider’s stock valued at $1,012,340,000 after purchasing an additional 59,011 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in The Cigna Group by 2.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,168,959 shares of the health services provider’s stock worth $751,414,000 after purchasing an additional 44,810 shares during the last quarter. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

The Cigna Group Price Performance

Shares of CI stock opened at $300.80 on Tuesday. 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 fifty-two week low of $262.03 and a fifty-two week high of $370.83. The firm has a market cap of $83.67 billion, a P/E ratio of 24.58, a P/E/G ratio of 0.98 and a beta of 0.54. The business’s 50 day moving average price is $286.90 and its 200-day moving average price is $319.23.

The Cigna Group (NYSE:CI) last released its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share for the quarter, missing the consensus estimate of $7.84 by ($1.20). The Cigna Group had a net margin of 1.39% and a return on equity of 18.61%. During the same quarter in the prior year, the firm posted $6.79 earnings per share. On average, equities research analysts anticipate that The Cigna Group will post 29.77 earnings per share for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 annualized dividend and a yield of 2.01%. The Cigna Group’s dividend payout ratio (DPR) is 49.35%.

Analyst Ratings Changes

Several equities analysts have recently commented on CI shares. Raymond James reiterated a “strong-buy” rating and set a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Morgan Stanley reduced their price target on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com upgraded shares of The Cigna Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft cut 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 note on Monday, November 4th. Finally, Oppenheimer decreased their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, The Cigna Group currently has an average rating of “Buy” and a consensus target price of $372.31.

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.