Avidian Wealth Enterprises LLC Acquires 723 Shares of The Cigna Group (NYSE:CI)

Avidian Wealth Enterprises LLC grew its position in The Cigna Group (NYSE:CI) by 24.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,637 shares of the health services provider’s stock after acquiring an additional 723 shares during the period. Avidian Wealth Enterprises LLC’s holdings in The Cigna Group were worth $1,004,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Kentucky Trust Co bought a new position in shares of The Cigna Group in the fourth quarter worth approximately $136,000. Certuity LLC boosted its position in shares of The Cigna Group by 86.2% in the fourth quarter. Certuity LLC now owns 1,896 shares of the health services provider’s stock worth $524,000 after purchasing an additional 878 shares during the period. Portfolio Design Labs LLC boosted its position in shares of The Cigna Group by 59.1% in the fourth quarter. Portfolio Design Labs LLC now owns 8,073 shares of the health services provider’s stock worth $2,229,000 after purchasing an additional 3,000 shares during the period. Collier Financial bought a new position in shares of The Cigna Group in the fourth quarter worth approximately $32,000. Finally, Aubrey Capital Management Ltd boosted its position in shares of The Cigna Group by 91.8% in the fourth quarter. Aubrey Capital Management Ltd now owns 1,849 shares of the health services provider’s stock worth $511,000 after purchasing an additional 885 shares during the period. 86.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CI shares. Oppenheimer lowered their target price on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, January 31st. Piper Sandler reissued an “overweight” rating and issued a $348.00 target price (down previously from $394.00) on shares of The Cigna Group in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of The Cigna Group from $398.00 to $394.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Sanford C. Bernstein downgraded shares of The Cigna Group from an “outperform” rating to a “market perform” rating and set a $323.00 target price on the stock. in a report on Thursday, February 6th. Finally, Cantor Fitzgerald lowered their target price on shares of The Cigna Group from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $373.69.

The Cigna Group Trading Down 0.9 %

Shares of CI opened at $292.72 on Thursday. The Cigna Group has a twelve month low of $262.03 and a twelve month high of $370.83. The company has a market cap of $81.42 billion, a P/E ratio of 23.92, a P/E/G ratio of 0.94 and a beta of 0.54. The company has a current ratio of 0.66, a quick ratio of 0.72 and a debt-to-equity ratio of 0.70. The company’s fifty day simple moving average is $288.17 and its 200-day simple moving average is $321.82.

The Cigna Group (NYSE:CI) last announced its earnings results 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 in the previous year, the company posted $6.79 earnings per share. As a group, analysts expect that The Cigna Group will post 29.8 EPS for the current year.

The Cigna Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Wednesday, March 5th will be paid a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 2.06%. This is an increase from The Cigna Group’s previous quarterly dividend of $1.40. 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.