SeaCrest Wealth Management LLC Lowers Stock Position in The Cigna Group (NYSE:CI)

SeaCrest Wealth Management LLC cut its holdings in shares of The Cigna Group (NYSE:CI) by 34.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 903 shares of the health services provider’s stock after selling 480 shares during the period. SeaCrest Wealth Management LLC’s holdings in The Cigna Group were worth $249,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% during the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after buying an additional 100 shares during 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. ORG Wealth Partners LLC purchased a new stake in The Cigna Group during the fourth quarter valued at approximately $34,000. Harbor Capital Advisors Inc. acquired a new stake in The Cigna Group in the third quarter valued at approximately $45,000. Finally, Intact Investment Management Inc. purchased a new position in The Cigna Group in the third quarter worth $69,000. Institutional investors own 86.99% of the company’s stock.

The Cigna Group Stock Performance

Shares of CI stock opened at $284.16 on Friday. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.71. The stock has a market cap of $79.04 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 0.75 and a beta of 0.54. The business has a 50-day simple moving average of $302.08 and a 200-day simple moving average of $327.07.

The Cigna Group (NYSE:CI) last announced its quarterly earnings results on Thursday, October 31st. The health services provider reported $7.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.22 by $0.29. The company had revenue of $63.70 billion during the quarter, compared to the consensus estimate of $59.58 billion. The Cigna Group had a return on equity of 18.42% and a net margin of 1.31%. The Cigna Group’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted $6.77 earnings per share. On average, equities analysts expect that The Cigna Group will post 28.5 EPS for the current year.

The Cigna Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Wednesday, December 4th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.97%. The Cigna Group’s dividend payout ratio (DPR) is currently 52.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CI shares. Royal Bank of Canada decreased their price objective on The Cigna Group from $384.00 to $377.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Stephens reiterated an “overweight” rating and issued a $410.00 price target on shares of The Cigna Group in a research note on Friday, November 1st. Barclays boosted their price target on The Cigna Group from $405.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Truist Financial lowered their target price on shares of The Cigna Group from $420.00 to $390.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Piper Sandler restated an “overweight” rating and set a $394.00 price target (up previously from $392.00) on shares of The Cigna Group in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Buy” and a consensus target price of $395.93.

About The 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.