State of Alaska Department of Revenue Purchases 2,820 Shares of The Cigna Group (NYSE:CI)

State of Alaska Department of Revenue increased its position in shares of The Cigna Group (NYSE:CI) by 7.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 39,315 shares of the health services provider’s stock after buying an additional 2,820 shares during the period. State of Alaska Department of Revenue’s holdings in The Cigna Group were worth $10,855,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. ORG Wealth Partners LLC bought a new position in The Cigna Group during the fourth quarter worth about $34,000. Ulland Investment Advisors LLC raised its holdings in shares of The Cigna Group by 2,500.0% in the 3rd quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of The Cigna Group during the 3rd quarter worth approximately $37,000. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group in the 3rd quarter valued at $45,000. Finally, Heck Capital Advisors LLC bought a new stake in The Cigna Group in the fourth quarter valued at $53,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CI. Cantor Fitzgerald cut their price objective on The Cigna Group from $400.00 to $350.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial cut their price target on shares of The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com cut shares of The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Oppenheimer cut their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday, January 31st. Finally, Piper Sandler restated an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Price Performance

Shares of CI stock opened at $287.08 on Friday. The firm has a market cap of $79.85 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 0.97 and a beta of 0.54. The Cigna Group has a 12 month low of $262.03 and a 12 month high of $370.83. 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 stock has a 50-day moving average price of $291.86 and a 200 day moving average price of $323.32.

The Cigna Group (NYSE:CI) last announced its quarterly earnings data 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 last year, the business earned $6.79 earnings per share. Research analysts expect that The Cigna Group will post 29.66 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be paid a $1.51 dividend. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a yield of 2.10%. The Cigna Group’s dividend payout ratio is presently 49.35%.

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.