Avestar Capital LLC Decreases Position in The Cigna Group (NYSE:CI)

Avestar Capital LLC reduced its position in shares of The Cigna Group (NYSE:CI) by 9.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,461 shares of the health services provider’s stock after selling 361 shares during the period. Avestar Capital LLC’s holdings in The Cigna Group were worth $956,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sterling Financial Group Inc. purchased a new stake in The Cigna Group during the 4th quarter valued at about $4,367,000. Marks Group Wealth Management Inc boosted its holdings in shares of The Cigna Group by 3,669.7% during the 3rd quarter. Marks Group Wealth Management Inc now owns 24,013 shares of the health services provider’s stock worth $8,319,000 after purchasing an additional 23,376 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of The Cigna Group by 3.6% in the third quarter. Principal Financial Group Inc. now owns 323,911 shares of the health services provider’s stock valued at $112,216,000 after purchasing an additional 11,228 shares during the last quarter. Trinity Street Asset Management LLP lifted its position in The Cigna Group by 7.1% during the third quarter. Trinity Street Asset Management LLP now owns 81,411 shares of the health services provider’s stock worth $28,204,000 after buying an additional 5,397 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in The Cigna Group by 1.1% during the fourth quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 75,837 shares of the health services provider’s stock worth $20,942,000 after buying an additional 858 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.

Wall Street Analysts Forecast Growth

CI has been the topic of several analyst reports. StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Morgan Stanley decreased their target price on shares of The Cigna Group from $403.00 to $379.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 price target for the company. in a report on Thursday, February 6th. UBS Group decreased their price objective on The Cigna Group from $410.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Piper Sandler reissued an “overweight” rating and set a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, The Cigna Group presently has an average rating of “Moderate Buy” and a consensus target price of $373.69.

The Cigna Group Price Performance

The Cigna Group stock opened at $299.99 on Friday. 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 has a 52-week low of $262.03 and a 52-week high of $370.83. The firm has a market cap of $83.44 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 0.94 and a beta of 0.54. The company’s 50 day moving average is $287.42 and its two-hundred day moving average is $321.61.

The Cigna Group (NYSE:CI) last posted its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the business posted $6.79 earnings per share. On average, research analysts expect that The Cigna Group will post 29.8 EPS for the current fiscal year.

The Cigna Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Wednesday, March 5th will be given a $1.51 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. This represents a $6.04 dividend on an annualized basis and a dividend yield of 2.01%. The Cigna Group’s dividend payout ratio is currently 45.75%.

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.