New York Life Investment Management LLC Purchases 191 Shares of The Cigna Group (NYSE:CI)

New York Life Investment Management LLC increased its holdings in The Cigna Group (NYSE:CI) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 41,652 shares of the health services provider’s stock after buying an additional 191 shares during the period. New York Life Investment Management LLC’s holdings in The Cigna Group were worth $11,502,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Impact Investors Inc purchased a new position in shares of The Cigna Group during the fourth quarter valued at approximately $537,000. National Pension Service boosted its holdings in The Cigna Group by 1.6% in the fourth quarter. National Pension Service now owns 628,867 shares of the health services provider’s stock valued at $173,655,000 after acquiring an additional 9,750 shares in the last quarter. Cutter & CO Brokerage Inc. increased its position in The Cigna Group by 2.1% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 2,387 shares of the health services provider’s stock valued at $659,000 after purchasing an additional 50 shares during the period. Illinois Municipal Retirement Fund raised its holdings in The Cigna Group by 50.3% in the 4th quarter. Illinois Municipal Retirement Fund now owns 56,943 shares of the health services provider’s stock worth $15,724,000 after purchasing an additional 19,064 shares in the last quarter. Finally, Vaughan David Investments LLC IL lifted its position in shares of The Cigna Group by 1.7% in the 4th quarter. Vaughan David Investments LLC IL now owns 144,147 shares of the health services provider’s stock worth $39,805,000 after purchasing an additional 2,370 shares during the period. Hedge funds and other institutional investors own 86.99% of the company’s stock.

The Cigna Group Trading Down 0.6 %

NYSE:CI opened at $303.39 on Friday. The Cigna Group has a 52 week low of $262.03 and a 52 week high of $370.83. The stock has a market cap of $84.39 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 0.98 and a beta of 0.54. The company’s 50 day moving average price is $288.90 and its 200-day moving average price is $318.87. 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 Cigna Group (NYSE:CI) last issued its 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 net margin of 1.39% and a return on equity of 18.61%. During the same period in the previous year, the company earned $6.79 EPS. On average, equities research analysts forecast that The Cigna Group will post 29.77 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. This represents a $6.04 annualized dividend and a yield of 1.99%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. The Cigna Group’s dividend payout ratio (DPR) is presently 49.35%.

Analysts Set New Price Targets

CI has been the topic of several research analyst reports. Royal Bank of Canada set a $355.00 price target on shares of The Cigna Group in a research report on Friday, January 31st. Cantor Fitzgerald reduced their target price on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Morgan Stanley lowered their target price on The Cigna Group from $403.00 to $379.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Barclays reduced their price target on The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Finally, UBS Group lowered their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Two 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $372.31.

The Cigna Group 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.