Foster Victor Wealth Advisors LLC Sells 1,833 Shares of The Cigna Group (NYSE:CI)

Foster Victor Wealth Advisors LLC reduced its stake in shares of The Cigna Group (NYSE:CI) by 3.3% in the 1st quarter, Holdings Channel reports. The firm owned 53,276 shares of the health services provider’s stock after selling 1,833 shares during the quarter. The Cigna Group accounts for 1.4% of Foster Victor Wealth Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Foster Victor Wealth Advisors LLC’s holdings in The Cigna Group were worth $17,591,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Moody National Bank Trust Division raised its position in shares of The Cigna Group by 0.7% in the 1st quarter. Moody National Bank Trust Division now owns 4,587 shares of the health services provider’s stock worth $1,509,000 after acquiring an additional 34 shares in the last quarter. Kesler Norman & Wride LLC raised its position in shares of The Cigna Group by 1.8% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,033 shares of the health services provider’s stock worth $562,000 after acquiring an additional 35 shares in the last quarter. Wynn Capital LLC raised its position in shares of The Cigna Group by 1.0% in the 1st quarter. Wynn Capital LLC now owns 3,451 shares of the health services provider’s stock worth $1,135,000 after acquiring an additional 35 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its position in shares of The Cigna Group by 1.9% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 1,883 shares of the health services provider’s stock worth $520,000 after acquiring an additional 36 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of The Cigna Group by 2.3% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,626 shares of the health services provider’s stock worth $535,000 after acquiring an additional 36 shares in the last quarter. 86.99% of the stock is owned by institutional investors.

The Cigna Group Price Performance

CI stock opened at $317.03 on Friday. The company has a market capitalization of $84.69 billion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 0.98 and a beta of 0.44. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.72 and a current ratio of 0.66. The Cigna Group has a 52-week low of $262.03 and a 52-week high of $370.83. The business has a 50-day simple moving average of $322.31 and a two-hundred day simple moving average of $308.38.

The Cigna Group (NYSE:CI) last announced its earnings results on Friday, May 2nd. The health services provider reported $6.74 earnings per share for the quarter, topping analysts’ consensus estimates of $6.35 by $0.39. The Cigna Group had a return on equity of 18.61% and a net margin of 1.39%. The firm had revenue of $65.45 billion for the quarter, compared to the consensus estimate of $60.39 billion. During the same quarter in the previous year, the business earned $6.47 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. Research analysts expect that The Cigna Group will post 29.77 EPS for the current fiscal year.

The Cigna Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd will be given a dividend of $1.51 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $6.04 dividend on an annualized basis and a dividend yield of 1.91%. The Cigna Group’s dividend payout ratio is presently 33.44%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CI shares. Wall Street Zen raised The Cigna Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Barclays reaffirmed an “overweight” rating and issued a $385.00 target price (up from $382.00) on shares of The Cigna Group in a research report on Monday, June 2nd. Mizuho boosted their target price on The Cigna Group from $360.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, April 9th. Guggenheim reaffirmed a “buy” rating and issued a $388.00 target price on shares of The Cigna Group in a research report on Friday, May 23rd. Finally, Piper Sandler boosted their target price on The Cigna Group from $348.00 to $374.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $380.39.

The Cigna Group 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.