Aviance Capital Partners LLC Acquires 314 Shares of The Cigna Group (NYSE:CI)

Aviance Capital Partners LLC increased its holdings in shares of The Cigna Group (NYSE:CI) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,549 shares of the health services provider’s stock after buying an additional 314 shares during the period. Aviance Capital Partners LLC’s holdings in The Cigna Group were worth $5,122,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC increased its stake in The Cigna Group by 13.8% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 2,986 shares of the health services provider’s stock valued at $824,000 after purchasing an additional 362 shares in the last quarter. Callan Family Office LLC bought a new stake in The Cigna Group in the fourth quarter valued at approximately $2,599,000. E Fund Management Co. Ltd. increased its stake in The Cigna Group by 98.6% in the fourth quarter. E Fund Management Co. Ltd. now owns 1,791 shares of the health services provider’s stock valued at $495,000 after purchasing an additional 889 shares in the last quarter. Candriam S.C.A. boosted its holdings in shares of The Cigna Group by 210.5% in the fourth quarter. Candriam S.C.A. now owns 76,881 shares of the health services provider’s stock valued at $21,230,000 after buying an additional 52,119 shares during the period. Finally, One Capital Management LLC boosted its holdings in shares of The Cigna Group by 0.8% in the fourth quarter. One Capital Management LLC now owns 39,339 shares of the health services provider’s stock valued at $10,863,000 after buying an additional 324 shares during the period. Institutional investors own 86.99% of the company’s stock.

Insider Activity

In related news, CEO David Cordani sold 26,527 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total value of $8,173,499.24. Following the completion of the sale, the chief executive officer now owns 127,767 shares of the company’s stock, valued at approximately $39,367,568.04. This trade represents a 17.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicole S. Jones sold 4,904 shares of The Cigna Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $308.12, for a total transaction of $1,511,020.48. Following the completion of the sale, the insider now directly owns 29,421 shares of the company’s stock, valued at approximately $9,065,198.52. The trade was a 14.29 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

The Cigna Group Stock Up 1.8 %

The Cigna Group stock opened at $315.54 on Friday. 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 firm has a 50 day moving average price of $291.99 and a two-hundred day moving average price of $318.03. The firm has a market cap of $87.77 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 0.98 and a beta of 0.54.

The Cigna Group (NYSE:CI) last released its quarterly earnings data 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 prior year, the business posted $6.79 earnings per share. Equities analysts predict that The Cigna Group will post 29.77 EPS for the current year.

The Cigna Group Increases Dividend

The business also recently disclosed 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 of this dividend is Wednesday, March 5th. This represents a $6.04 annualized dividend and a dividend yield of 1.91%. This is a positive change from The Cigna Group’s previous quarterly dividend of $1.40. The Cigna Group’s payout ratio is currently 49.35%.

Wall Street Analyst Weigh In

CI has been the subject of several research analyst reports. Oppenheimer reduced their price target on shares of The Cigna Group from $400.00 to $375.00 and set an “outperform” rating for the company in a report on Friday, January 31st. Barclays dropped their price target on shares of The Cigna Group from $420.00 to $339.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Piper Sandler reaffirmed an “overweight” rating and set a $348.00 price target (down from $394.00) on shares of The Cigna Group in a research report on Monday, February 3rd. Raymond James reissued a “strong-buy” rating and issued a $360.00 price objective (down from $415.00) on shares of The Cigna Group in a research report on Friday, January 31st. Finally, Stephens lowered their price target on shares of The Cigna Group from $410.00 to $380.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, The Cigna Group has an average rating of “Buy” and an average target price of $372.31.

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.