Avitas Wealth Management LLC Raises Stock Holdings in The Cigna Group (NYSE:CI)

Avitas Wealth Management LLC grew its stake in The Cigna Group (NYSE:CI) by 13.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,556 shares of the health services provider’s stock after acquiring an additional 1,978 shares during the quarter. Avitas Wealth Management LLC’s holdings in The Cigna Group were worth $4,572,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ulland Investment Advisors LLC lifted its position in shares of The Cigna Group by 2,500.0% in the third quarter. Ulland Investment Advisors LLC now owns 104 shares of the health services provider’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in The Cigna Group in the third quarter valued at $37,000. ORG Wealth Partners LLC acquired a new position in The Cigna Group in the fourth quarter valued at $34,000. Harbor Capital Advisors Inc. acquired a new position in The Cigna Group in the third quarter valued at $45,000. Finally, Heck Capital Advisors LLC acquired a new position in The Cigna Group in the fourth quarter valued at $53,000. 86.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Raymond James reiterated a “strong-buy” rating and issued a $360.00 target price (down from $415.00) on shares of The Cigna Group in a research note on Friday, January 31st. Wells Fargo & Company dropped their target price on The Cigna Group from $370.00 to $341.00 and set an “equal weight” rating for the company in a research note on Tuesday. StockNews.com lowered The Cigna Group from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Truist Financial dropped their price target on The Cigna Group from $390.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, UBS Group dropped their price target on The Cigna Group from $410.00 to $390.00 and set a “buy” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $376.63.

The Cigna Group Price Performance

CI stock opened at $291.84 on Wednesday. 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 1 year low of $262.03 and a 1 year high of $370.83. The firm has a market cap of $81.17 billion, a P/E ratio of 23.84, a price-to-earnings-growth ratio of 0.97 and a beta of 0.54. The stock has a 50-day simple moving average of $293.59 and a 200-day simple moving average of $323.84.

The Cigna Group (NYSE:CI) last issued its quarterly earnings results on Thursday, January 30th. The health services provider reported $6.64 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 in the previous year, the company posted $6.79 earnings per share. On average, equities analysts predict that The Cigna Group will post 29.66 earnings per share for the current fiscal year.

The Cigna Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Wednesday, March 5th will be issued a $1.51 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.04 dividend on an annualized basis and a yield of 2.07%. 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 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.