Cigna Group $CI Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in Cigna Group (NYSE:CI) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,798 shares of the health services provider’s stock after buying an additional 21,003 shares during the quarter. New York State Common Retirement Fund owned approximately 0.19% of Cigna Group worth $146,373,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Maj Invest Holding A S grew its holdings in Cigna Group by 2.4% during the 3rd quarter. Maj Invest Holding A S now owns 422,728 shares of the health services provider’s stock valued at $121,854,000 after purchasing an additional 10,042 shares in the last quarter. SCS Capital Management LLC boosted its position in Cigna Group by 39.1% in the 2nd quarter. SCS Capital Management LLC now owns 30,633 shares of the health services provider’s stock valued at $10,127,000 after buying an additional 8,609 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Cigna Group by 3.9% during the second quarter. Retirement Systems of Alabama now owns 165,487 shares of the health services provider’s stock valued at $54,707,000 after acquiring an additional 6,155 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Cigna Group by 3.9% during the second quarter. Janney Montgomery Scott LLC now owns 35,943 shares of the health services provider’s stock worth $11,882,000 after acquiring an additional 1,357 shares during the last quarter. Finally, Natixis lifted its stake in shares of Cigna Group by 69.5% in the second quarter. Natixis now owns 223,884 shares of the health services provider’s stock worth $74,012,000 after acquiring an additional 91,794 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CI. Leerink Partners lowered their price objective on Cigna Group from $300.00 to $270.00 in a research note on Friday, October 31st. Morgan Stanley reiterated an “overweight” rating and set a $355.00 target price on shares of Cigna Group in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Cigna Group in a research note on Monday, December 29th. Wolfe Research reduced their price objective on shares of Cigna Group from $345.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 15th. Finally, Cantor Fitzgerald decreased their price objective on shares of Cigna Group from $365.00 to $325.00 in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Cigna Group currently has an average rating of “Moderate Buy” and an average target price of $330.36.

Insiders Place Their Bets

In other Cigna Group news, CEO David Cordani bought 4,134 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average price of $241.88 per share, with a total value of $999,931.92. Following the completion of the acquisition, the chief executive officer directly owned 157,935 shares of the company’s stock, valued at approximately $38,201,317.80. The trade was a 2.69% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.70% of the stock is currently owned by company insiders.

Cigna Group Stock Performance

Cigna Group stock opened at $272.68 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.76. Cigna Group has a 12 month low of $239.51 and a 12 month high of $350.00. The company has a fifty day moving average price of $274.62 and a two-hundred day moving average price of $284.95. The company has a market cap of $72.84 billion, a PE ratio of 12.03, a P/E/G ratio of 0.95 and a beta of 0.26.

Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, October 30th. The health services provider reported $7.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.64 by $0.19. Cigna Group had a net margin of 2.29% and a return on equity of 18.80%. The company had revenue of $69.57 billion for the quarter, compared to the consensus estimate of $66.40 billion. During the same period last year, the firm posted $7.51 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Research analysts expect that Cigna Group will post 29.77 earnings per share for the current year.

About Cigna Group

Cigna Group (NYSE: CI) is a global health services company that offers a broad portfolio of healthcare products and insurance solutions for individuals, employers, and governments. Its core businesses include medical and behavioral health plans, dental and vision coverage, pharmacy benefit management, and supplemental health products. Cigna serves a mix of commercial, Medicare, and Medicaid customers and provides workplace benefits such as group health plans and disability and life benefits for employers.

In addition to traditional insurance products, Cigna operates health services and care-delivery platforms designed to manage costs and improve outcomes.